BOE’s Carney: Some withdrawal of stimulus is needed if slack continues to be run down

BOE’s Mark Carney speaking in Washington

• Mon Pol May Have To Move In Order To Stand Still Due To Possibility That Global Equilibrium Interest Rates Are Rising
• Main Question About Brexit’s Impact On Inflation Is Extent To Which It Has Been Brought Forward
• Some Of The Disinflationary Shock To Demand Has Been Deferred While Most Inflationary Channels Have Begun To Appear
• Reiterates That Any Rate Hikes Are Expected To Be Gradual And Limited
• Any Loss Of Trade Openness With EU After Brexti Is Unlikely To Be Immediately Compensated By Ties With New Partners

Not a hawkish follow up to the comments from the MPC last week, and the quid has suffered for it with GBPUSD down to near 1.3500 from around 1.3560. Markets like certainty and when it’s instead tied to ‘ifs’ and ‘maybe’s’, that’s a recipe for markets to dial down expectations.

• About
• Latest Posts

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here

Latest posts by Ryan Littlestone (see all)

• The last NFP competition of 2022 - December 1, 2022
• Will this month’s US NFP be a horror show? - October 4, 2022
• US NFP competition – Do you think there’s going to be a turn in the US jobs market? - August 31, 2022