{"id":710766,"date":"2026-06-02T17:15:26","date_gmt":"2026-06-02T17:15:26","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/710766\/"},"modified":"2026-06-02T17:15:26","modified_gmt":"2026-06-02T17:15:26","slug":"boes-bailey-the-inflation-overshoot-is-entirely-due-to-events-in-the-persian-gulf","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/710766\/","title":{"rendered":"BOE&#8217;s Bailey: The inflation overshoot is entirely due to events in the Persian Gulf"},"content":{"rendered":"<p data-v-6bf95c48=\"\">That&#8217;s the kind of comment that&#8217;s a pushback on pricing for 50 bps of hikes in the next year despite a weak economy. Those risks won&#8217;t really materialize though until the war is over and oil prices begin to fall. If\/when that happens, then the BOE will be getting help on inflation from energy.<\/p>\n<p data-v-6bf95c48=\"\">What Bailey doesn&#8217;t say is that oil prices were falling before the war in Iran. That itself was a drag on inflation and they never got it down despite that. Now you can blame tariffs and whatever else but there was a positive state of play and simply unwinding that would have gotten oil back to $75 or so.<\/p>\n<p data-v-6bf95c48=\"\">With that, it&#8217;s a facetious premise to only blame the war in Iran.<\/p>\n","protected":false},"excerpt":{"rendered":"That&#8217;s the kind of comment that&#8217;s a pushback on pricing for 50 bps of hikes in the next&hellip;\n","protected":false},"author":2,"featured_media":710767,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":["post-710766","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/710766","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=710766"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/710766\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/710767"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=710766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=710766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=710766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}