Comments in London from the BOE's Vlieghe:

  • Slack in the UK is increasing again
  • Global outlook has deteriorated since July
  • Sees risk of monetary policy running out of ammunition
  • Scenario of entrenched Brexit uncertainty is likely to require stimulus

One-week implied volatility for the pound is trading at 18%, the highest since the week of the referendum. It's going to be a wild one for pound traders.