- rises will be limited and gradual
- scope to absorb more slack before rate rise
- data suggests that a pick-up in real wages could be about to happen
No talk as yet of rate rises this year. Market still on the back foot a little but 1.6980 support/bids holding at the moment
GBPUSD 1.6985 EURGBP 0.8017
Carney:
- UK recovery more balanced than prev but wage growth fundamental to sustained consumption growth
- recent sterling strength has not yet been supported by improvement in competitiveness
