OECD secretary general Gurria speaking in London 17 Oct

  • UK mon pol should remain supportive
  • BOE should look through inflation boost from weak pound

I make him right, although many economists ( I am just a humble trader) would disagree and argue that rates should be jacked higher regardless.

  • UK should boost investment spending if growth weakens significantly ahead of Brexit
  • reversal of Brexit would have significant impact on economic growth

In response UK fin min Hammond says:

  • certainty on Brexit deal would support investment
  • confident we can drive up productivity in UK
  • boosting productivity will be a theme of Nov budget

GBPUSD continues its journey south to 1.3192 EURGBP up to 0.8914