BOE dep gov in a scheduled speech 18 Nov
- MPC would be able to stop future rise in unemployment if GBP had not fallen
- some truth that mon pol should look through GBP moves but MPC should not be complacent or indifferent to impact on inflation
- import price changes take quite a long time to feed through to retail, long enough in principle for mon pol to do something about them
Full speech here
MPC seemingly wanting their cake and to eat it. On the one hand thanking the GBP fall for inflation boost and now blaming it for potential job losses.
Either way GBP getting a lift on the seemingly hawkish tones but ntg really new here.
GBPUSD 1.2430 EURGBP testing bids/support below 0.8530 again. I've just gone small long here looking to build into any dip to 0.8500 where I'll re-assess.
BOE's Broadbent - MPC wanting the best of both worlds
