Carney says inflation forecasts lowered partly due to 3% GBP appreciation

The BOE presser/Q&A continues 2 Feb

• also partly due to market expectations of rate rise

Catch 22 huh? BOE taking a lead from the markets who are trying to take a lead from them.

What a circus.

• MPC has reached its conclusions after vigorous debate and detailed analysis
• just because MPC agree today on rates does not mean there will be unamity at next or subsequent meetings
• UK not in a debt-fuelled consumer expansion

BS. See my previous post and comments

• pick up in unsecured consumer credit will cause FPC and PRA to look at underwriting standards

By which time the horse will have well and truly bolted. Again.

GBPUSD 1.2560 after testing 1.2550. EURGBP up through 0.8600.

Q&A continuing but I'm handing the baton over now. I hope you've sold some pounds and made some pips.