BOE MPC members still testifying 21 Feb

  • BOE rate hikes would be gradual and limited
  • risks in latest BOE projections to the upside
  • potential for greater than forecast global momentum
  • we have some distance to travel to get back to even 1% productivity in UK

This will go on for a while yet

GBP nudging a little higher but going nowhere fast at 1.3954, 0.8835 and 150.02