BOE's press conference...
- Past guidance specifically to be reliant on economy's progress
- No progress, so no rate hike this time
- Will softness be temporary or permanent (the main question)
- UK exporters remain in sweet spot
- UK economy overall looks little changed
- Brexit drag on investment, still there, but not worse
- Possible households save, rather than spend as incomes recover
- less effect of post referendum sterling fall to be passed onto consumer
- UK to need 'modest tightening' over forecast period
- Outlook for UK remains clouded by Brexit
- EU trade terms is a sticking point
GBP/USD recovering earlier losses, now at 1.3527 as Carney says UK's
outlook has little changed...
You have got to feel for Carney here - boy, the press are like a dog with a bone, they just won't give it up questioning him again and again about the same thing. Look, shows over folks, interest rates are going to be data dependent and rises will be 'limited and gradual'...Comprendo?
