That sounds a little less bullish than before or is it just me ?
Q&A now starting
GBPUSD 1.5488 from 1.5466 lows EURGBP 0.7030 from fresh highs of 0.7044
- near term outlook for inflation is muted
- not surprising if we have another month or two of negative inflation
- pickup in productivity is very good news for sustainability of recovery
- says his Lincoln speech on interest rate hikes round turn of year were his own not the MPCs and misinterpreted by the media
- says view hasn't changed
Echoes of the Mansion House speech debacle last year when he had to explain/apologise that he had stepped across the protocol line
- no one on MPC can pre-commit to any move in rates
- we are mildly encouraged to see recent pick-up in productivity
GBPUSD still failing to rally too far and I see nothing here to help the bulls at the moment. Only a passing reference to strength of sterling so far will be a small blessing
GBPUSD 1.5488 from 1.5498
