BOE MPC's Broadbent still at it 5 Oct
- seeing no evidence of disorderly markets
- moves in sterling have been "pretty orderly"
Has he been spending time in Japan lately?
- BOE has no target for sterling, should be seen in context of inflation
- if sterling had fallen more sharply after referendum it could have affected policy decision
So 15% devaluation wasn't quite enough eh? lol
- if sterling starts to fall uncontrollably it could have consequences for mon pol
- in principle GBP could fall fast enough to warrant a removal of monetary accommodation
And therein lays the double-edged sword.
GBPUSD drops lower again. 1.2700-50 still covers it for the moment
EURGBP nudging back into 0.8830
BOE'S Broadbent - No target for GBP
