Yes folks, Carney still testifying to the TSC 17 Oct
- challenges for UK housing market are structural
- govt's help to buy scheme is not material for overall UK housing market
- 2016 round of QE had a sizeable impact on UK economy
- in a perfect world we would not be using QE just interest rates
- bank rate not QE will be relevant instrument for policy.
Replying to a question whether BOE is "addicted" to QE
I think the message is clear today, rate hike or not in Nov/Dec ( which I still doubt) we can forget any attention being paid to QE tapering anytime soon.
GBPUSD seems to agree with me still and now down to 1.3183 as EURGBP heads up to 0.8923
Testimony now concluded ( 12.13 GMT)
See you all tomorrow. Off to stick my fingers in a large ice bucket now then heading to London to meet economist John Hearn among others. Will report back tomorrow. In the meantime you can follow him on twitter @jbh
