BOE deputy governor Cunliffe speaking to BBC radio 28 June
- domestic inflation pressure data gives us more time to see how it evolves
- lesson from last few years is that UK economy hasn't generated much inflation pressure
- want to see how exports and consumer slowdown plays out
- BOE bank rate is very small part of bank lending rates
- lending standards should not be affected by BOE interest rates
- time to remind financial institutions of pockets of risk
Dovish tones but as for "lesson from last few years" are we really to believe CBs and indeed consumers learn anything from history?
GBPUSD 1.2816 flat-lining after the NY spike to 1.2861 and rapid retreat.
Cunliffe- Time to remind people of risk
