Part 2 of the Carney show sees him speaking to Bloomers

  • Growth has ticked down while domestic costs have ticked up
  • Cuts to global outlook are due to China and emerging markets
  • China rebalancing is positive, though it may not be smooth
  • UK has made progress but not enough for a hike now, progress has been mixed
  • Performance of US important for demand outlook in UK
  • Core CPI is a key guide to imported disinflation

The BOE could have probably stuck just these 7 lines out as today's statement and it would have covered the lot :-D