Cable is firming in the wake of comments from BOE deputy governor Bean that the Bank is trying to ensure the period of unusually low interest rates is as short as possible. He says the picture the BOE is getting is that the economy has bottomed out. Firms remain cautious and are waiting to see what happens next, he says. Downward pressure on inflation will be felt over the medium-term , he tells the BBC.
Cable has popped to 1.6530 from about 1.6500 on the comments.
