BOE gov Carney up to the mic at Mansion House 20 June
Says Carney:
"From my perspective, given the mixed signals on consumer spending and business investment, and given the still subdued domestic inflationary pressures, in particular anaemic wage growth, now is not yet the time to begin that adjustment.
In the coming months, I would like to see the extent to which weaker consumption growth is offset by other components of demand, whether wages begin to firm, and more generally, how the economy reacts to the prospect of tighter financial conditions and the reality of Brexit negotiations."
Speech underway and down comes the pound as Carney highlights the weak wages vs inflation dilemma I expected in my preview, and here after last week's MPC vote.
Full text of the speech called "A Fine Balance" here
Only one pair of hands. Sorry.
GBPUSD 1.2678 on session and 1-week lows after a rapid fall from 1.2745. GBP bulls will see this as cheaper levels to buy but I know which side I prefer still.
EURGBP rallies to test 0.8800.
