BOE hawk Michael Saunders currently speaking
- Does not think labour market has overheated yet
- Jobless rate will fall more than the MPC base case
- Views that Q1 weakness is erratic or may be revised away
- Brexit will probably have a moderate negative impact in the long run
- Inflation impact of sterling's drop is starting to fade
Saunders' comments are facing some degree of scrutiny, particularly after Carney's earlier comments in saying that much of the Q1 softness will not be made up from the revision. But no surprises as Saunders is probably the most hawkish member on the MPC.
------
