BOE's Haldane: Risks to the economy remain considerable, two-sided
Comments by BOE chief economist, Andy Haldane
- In my view, risks are slightly more evenly balanced than in May
- But they remain skewed to the downside
- Stands ready to adjust monetary policy, at speed, if needed
- In my view, positive news on demand has more than counterbalanced the rise in downside risks to employment
He is sort of justifying his dissent at the latest BOE policy meeting two weeks ago with the remarks above. So, while they seem a tad more upbeat, just be mindful that it was a 8-1 decision at the time. The full text of his speech can be found here.
Cable is still keeping weaker at 1.2269 just off earlier lows at 1.2258 as the dollar continues to keep firmer on the session ahead of North American trading later.