BOE Carney speech: quotes
The BoE Governor Carney increased selling pressure on GBP/USD, dampening expectations of an early rate hike.
Key Carney's quotes:
- UK economy is still in extraordinary times
- There is no clear timing on rate hikes, they will be gradual
- The BOE is balancing inflation implications from sustained economic momentum versus conflicting signals of labour market slack
- Expensive currency weighs on the economy
- Government needs to be careful that household indebtedness doesn’t pull the economy back into recession
- UK economy is currently producing as much as in did at the pre-crisis time
- "Next inflation report will provide the next opportunity to update our thinking on these important questions" (next report is August 13th)
GBP/USD slipped to $1.7020 as of writing.