BOE chief economist Spencer Dale says GDP growth will be choppy from quarter to quarter and will be subject to gale force winds in both directions. BOE policy continues to provide significant support to the economy. The MPC has not gone soft on inflation, Dale said and that if high UK inflation feeds into a wage/price spiral, the BOE would be forced to tighten, maybe aggressively…
Cable traded now around 1.5595 after some wild swings around midday in the US.
