BOE governor, Mark Carney, comments further on the day
- Expects powerful and timely global economic response to the coronavirus
- BOE looking at facilities to support lending to small businesses
- Demand impact from coronavirus likely to be larger than supply impact in near-term
- Demand impact is a consideration for monetary policy
He's dropping quite a number of hints about possible action to follow by the BOE in his remarks today, and even justifying them by pointing towards the demand-side shock being the more influential in the short-term amid the virus outbreak.
But again, if the virus continues to spread and chip away at the global economy, the supply-side shock is something that the BOE cannot do much about and Carney knows it too.
The pound is continuing to keep more perky on the day though, with cable up to 1.2810 currently near session highs.
