BOE MPC member Shafik speaking in London 28 Sept

  • Brexit is a sizeable economic shock for UK
  • BOE uncertain on QE impact,side effects
  • uncertainty is weighing on investment products
  • timing of any stimulus will depend on economy
  • UK data has been more positive than expected

Cue GBP falls with GBPUSD down to 1.2990 and EURGBP up to 0.8623.

GBP demand noted nearby on both.

Full speech here entitled "Small is beautiful but big is necessary"

BOE's Shafik- More easing needed