BOE’s Carney: There's residual softness in Q1 GDP data

FXStreet Team FXStreet

More comments flowing in from the Bank of England (BOE) Governor Carney, as he continues to testify before the UK Parliament.

Don't think much of the lost Q1 growth due to poor weather will be made up.

Expect to report more on neutral level of the UK interest rates in August inflation repo.

Monetary policy committee (MPC) has had "rigorous" discussion of publishing interest rate path, majority of MPC not in favour.

If BOE published rate path, might feel committed to follow through for reasons of credibility even if no longer economically appropriate.

Sees some signs of pick-up in retail spending but it is early days.

Real income squeeze is ending, but it is possible UK households will try to rebuild savings rather than spend more.

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