- Guidance helped expectations on inflation and interest rates
- Played a major supporting role in the recovery
- Subsequent guidance has concentrated on the medium term for managing household and business expectations
- Rates in three years time will be materially lower than historic 5% average
BOE’s Mile’s adds that the noise around whether first rate rise will come in December or February or March is largely noise. Need for forward guidance has eased but maintaining residual guidance is still necessary
It’s all over.
Cable is settling just below 1.70 at 1.6993 and has struggled to break back above the 1.7000/05 resistance
