Carney comments in the press conference
- Survey data suggests UK economic activity has picked up sharply since the election
- It is less of a case of 'so far, so good', than 'so far, good enough'
- It is important for hard data to follow through
- Global growth is picking up, caution is warranted
- Coronavirus is a reminder on the need to stay vigilant
- Recovery in UK growth and inflation are not yet assured
- Domestic price inflation appears to be muted
- Core inflation has slowed
- Margin of slack has been greater than previously estimated
He's not really giving much to markets, with his remarks pretty much reaffirming existing sentiment picked up from recent economic data releases and global headlines.
At this stage, I'm starting to wonder if there is really anything for the pound to keep up the jump from the decision. Besides traders covering back pricing on the on-hold decision today, we will have to wait on further data to reaffirm how the BOE is going to react next.
Cable is back above its key hourly moving averages but I reckon any gains above 1.3100 and especially 1.3150 will be tough to come by.
