Comments from BOE's Forbes
If the economy stays solid and inflation pick up continues, this could suggest a rate hike
Tentative data suggests that inflation may be accelerating slightly more rapidly than expected
Mon pol should be on hold simply due to uncertainty but should be nimble to adapt
Rate hike would still leave a substantial amount of stimulus for the economy
Recent upside inflation surprises may be a precursor to a bigger overshoot of the inflation target
Very hawkish comments from Forbes. Now countered by some Brexit comments.
Brexit negotiations will likely to continue to drive movements in GBP and confidence
Downside risks to the economy could re-emerge and the outlook could deteriorate faster than expected
UK unemployment equilibrium is likely below 5% but above the new BOE forecast of 4.5%
GBPUSD took a run at 1.2400 and there's similar moves in the crosses. It's been a while since we've had something remotely hawkish from an MPC member but I'm not sure there's enough here to turn today's tide fully. We'll see.
