Further comments in parliament by incoming BOE member John Haskel
- Could do more QE if financial markets are dislocated
- Appears to be much more slack in the UK economy than we think
- More slack in economy would weaken case for interest rate rise
His comments here are what is sending sterling lower now. Cable falling to a low of 1.3233 on the day.
The fact that McCafferty is speaking at the same time allow us to see the difference. And it is literally night and day between the two. Cable marked lower even more to touch a low of 1.3207, and now trades at 1.3217.
Remember, Haskel will be replacing McCafferty come September and the contrast between the two feels like one is on the extreme end of hawkishness while the other is on the extreme end of dovishness.
