Further comments by BOE member Saunders in his interview with CNBC
- Rate hikes will be limited and gradual
- Policy responses to Brexit are not automatic
- Exporter surveys are 'still pretty positive'
- BOE keeping close eye on global trade situation
The headline comment gave sterling a further boost on the day, with cable trading up to a high of 1.3196 on the back of that.
I don't think it quite matters what the policy makers will say, because at the end of the day their decision seems to be tied to the data. Without significant improvement in economic activity/data heading into the August meeting, the BOE will still have their hands tied.
