① Resolution results: With a 6:3 vote within the Bank of England, interest rates remained unchanged at 3.75%, and 3 members voted to raise interest rates by 25 basis points. ② Regarding forward-looking guidance: Bank of England Governor Bailey emphasized not to think that the Bank of England is gradually moving towards raising interest rates, but he said that the Bank of England is “ready to act at any time.” ③ Regarding energy prices: Energy prices have fluctuated drastically recently. Oil and gas prices are significantly higher than previously predicted, and we will continue to monitor the impact of the US-Iran conflict on inflation. ④ Regarding quantitative austerity: The impact of balance sheet reduction on 10-year treasury bond yields is moderate, and a decision on the quantitative austerity plan for the next year will be made in September. ⑤ About the economy and labor market: The GDP growth rate is expected to remain around 1% in 2026 and 2027, and job vacancies and private sector wage growth have fallen to low levels since the pandemic.

① Resolution results: With a 6:3 vote within the Bank of England, interest rates remained unchanged at 3.75%, and 3 members voted to raise interest rates by 25 basis points. ② Regarding forward-looking guidance: Bank of England Governor Bailey emphasized not to think that the Bank of England is gradually moving towards raising interest rates, but he said that the Bank of England is “ready to act at any time.” ③ Regarding energy prices: Energy prices have fluctuated drastically recently. Oil and gas prices are significantly higher than previously predicted, and we will continue to monitor the impact of the US-Iran conflict on inflation. ④ Regarding quantitative austerity: The impact of balance sheet reduction on 10-year treasury bond yields is moderate, and a decision on the quantitative austerity plan for the next year will be made in September. ⑤ About the economy and labor market: The GDP growth rate is expected to remain around 1% in 2026 and 2027, and job vacancies and private sector wage growth have fallen to low levels since the pandemic.