Highlights of the BOE inflation report press conference 1 November 2018
Well, what a dull affair. The UK press failed miserably to put any question of remote interest across, choosing to badger Carney about possible Brexit outcomes, all of which are out of his hands and remit anyway. The BOE can only react to what’s served up to them.
Further lips service was made to some of the bullish comments in the statement but only briefly and not expanded on to any great degree. The only other thing to pull from it is a possible insinuation that the market might be a touch behind the curve on its view of rates vs inflation expectations. A minor point missed by most there today.
And that was it. Carney sailed through without having to break a sweat.
GBPUSD isn’t for turning it seems as it remained above the 1.2900 throughout but but did not trouble the 1.2934 high again.