The BOE presser continues 2 Feb
- BOE stimulus after Brexit vote is working
- there will be twists and turns ahead
Statement finished and now into Q&A
- under-estimated strength of consumer spending
- consumer dynamic will be tested this year
- UK demand helped by available cheap credit.
Yep, just watch those credit borrowing and re-mortgage figures fly higher. Will they never learn?
- can see scenarios for rate cut or rate hike
- not giving a signal on future direction of rates, just laying out scenarios
Repeating his report statement.
GBPUSD still around 1.2580 GBPJPY 141.50 EURGBP 0.8585
