BOE governor Carney still in front of the Treasury Select Committee 24 May 2016
Nothing new in this headline
- Brexit would lower the probability that next rate move would be up
- exchange rate would do a lot of the work to increase inflation
- correct response to Brexit isn't necessarily easing
Carney still hedging his bets.
Weale:
- Unlikely that MPC will have a good sense of where exchange rate is settling, or full impact on demand at first BOE rate meeting after referendum
Note that last comment. No knee-jerk reaction expected.
Meanwhile GBPUSD 1.4578 EURGBP 0.7670
LARGER ICE BUCKET PLEASE!!!