BOE testimony to TSC still unfolding 21 Feb

  • biggest uncertainty is still Brexit
  • mon pol is nimble and react to changing circumstances
  • case for withdrawl of stimulus will be there if GDP exceeds 1.5%

One line in the sand then but Carney & Co have been known to welch on those a few times in the past.

  • fin markets starting to price in rate hikes in line with underlying data


  • trade-off facing rate setters has been less acute

Referring to jobs vs inflation trade-off

  • slack in economy is close to being fully absorbed
  • trade-off look to disappear completely

Watch it all live here