BOE MPC new boy still testifying to the TSC 11 Oct
- negative rates should be kept on review
- would be very loathe to tweak BOE inflation-targeting framework
GBPUSD capping again on the headline but still 1.2300 as I type.
- does not see any signs that pay growth is picking up markedly
- advantages of nominal GDP targeting can be achieved through flexible inflation-targeting framework
- does not think gov Carney's comments pre-Brexit vote were an attempt to position the BOE on one side of the debate
Committee understandably trying to get some noteworthy responses from the new boy but rest assured he will have been fully briefed prior.
- expects UK economy to do better in next few quarters than prev forecast
GBPUSD clinging on to 1.2300 still EURGBP toying with pivotal 0.9030 area.
