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Bank of England Deputy Governor Lombardelli: We believe the budget will reduce the inflation rate by 0.4 to 0.5 percentage points.

On December 9th, Bank of England Deputy Governor Ramsden stated in a written report to lawmakers that the Bank of England should continue to gradually reduce borrowing costs given the uncertainty surrounding estimates of the neutral interest rate level. Ramsden pointed out that as interest rates move closer to the "neutral level," the impact of monetary policy on inflation will become more difficult to assess. He stated, "Therefore, I believe it remains appropriate to continue gradually easing policy constraints, which allows the Monetary Policy Committee to carefully assess the balance of inflation risks as evidence accumulates."

Bank of England Deputy Governor Ramsden: The neutral interest rate is "close" to the midpoint of the 2%-4% range.

Bank of England Deputy Governor Lombardelli: Not as convinced as others that policy is contractionary.

Irish Prime Minister: Disagrees with US President Trump's description of European leaders as "weak".

Bank of England Deputy Governor Lombardelli: As we approach the end of this policy cycle, the pace of interest rate cuts may slow.

European Council President Costa: (When asked whether the December summit would reach an agreement on aid to Ukraine) We are very close to reaching a solution.

Bank of England Monetary Policy Committee member Dingella: I don't think policy needs to be so tight.

The Dow Jones Industrial Average opened 77.00 points higher, or 0.16%, at 47,816.32 on Tuesday, December 9; the S&P 500 opened 3.05 points lower, or 0.04%, at 6,843.46; and the Nasdaq Composite opened 73.48 points lower, or 0.31%, at 23,472.42.

Mexican President Simbaum: An agreement is expected to be reached with the United States on the water dispute.

Bank of England Monetary Policy Committee member Mann: The assumed neutral interest rate of 3.25%-3.5% is roughly appropriate.

Bank of England Monetary Policy Committee member Dingella: The process of inflation falling back this year has been progressing smoothly.

Bank of England Monetary Policy Committee member Dingella: The UK's higher inflation rate than the Eurozone's is not due to persistent factors, but rather to one-off administrative pricing.

Bank of England Monetary Policy Committee member Dingella: I remain very concerned about food prices, but overall inflation is still on track to fall.

European Council President Costa: We are working to get all countries involved in the Ukraine loan program.

Finnish President: We are very close to reaching a peace agreement in Ukraine.

Bank of England Monetary Policy Committee member Mann: Employment is diverging between the public and private sectors.

European Council President Costa: EU leaders will make a statement on the Ukraine issue next week.

Bank of England Deputy Governor Ramsden: I do not currently believe there is any evidence that the economy has deviated from our baseline forecast.