• We had substantial disinflation until recently
• We expect inflation to increase slightly further, but that will then be the peak
• We have seen labour market continue to loosen, wage growth normalising
• Services ex rents is stuck at close to 5%
• We should see services inflation fall materially
• Important to note salience of food prices for household inflation expectations
• Household inflation expectations appear to be more sensitive to food prices since 2022
• I do remain confident we will get inflation back to target with current restrictive rates, and market expectations
• Wage settlements are in line with pay surveys
• Wage growth heading for target-consistent rates
• I have been surprised by how long it has taken for wage-setting behaviour to get back in line
• The risk to inflation outlook balanced
• Cannot rule out that there are some structural problems in the labour market
• A gradual and careful approach on rates apt
• I see scope for further removal of policy restraint

I’ve heard them saying about services inflation falling materially for quite some time and yet here we are stuck at 5% for almost over a year. Based on his comments, I feel he’s more of a neutral/dove member at the moment.

Dhingra and Taylor are the most dovish BoE members at the moment but I would put Ramsden with them as well. He’s placing more weight on the labour market than inflation, despite everything going wrong on the inflation side.