Further comments by Bailey
- We have talked about yield curve control
- But it's something I don't see a great need for at the moment
- Great deal of work to be done with banks in deciding if negative rates are doable
- We will have more information on Brexit in December meeting
The headline remark pretty much says it all. In other words, if there is a need to urgently bring forward communication on negative rates, they can very much do so. But if not, they will just keep the option of flexibility until there is a need to change the current stance.
GBP/USD still keeping lower on the day around 1.3180 levels on a breach below 1.3200 as sellers are also defending a push under its 100-hour moving average @ 1.3199 for now.
