Carney Speech: Brexit uncertainty is affecting UK wage bargaining

Mark Carney, Governor of the Bank of England (BoE), is responding to questions from the press, with key headlines, via Reuters, found below:

  • There has been no discussion of raising rates by increments of less than 0.25 percentage points
  • Brexit uncertainty is affecting UK wage bargaining
  • We did not give any signal on timing of rate hikes

Key notes:

BoE: Hawkish, but still unlikely to hike this year - ING

The Bank of England voted 6-2 in favour of keep rates on hold today, but continued to signal that rates could rise faster than markets think, explains James Smith, Economist at ING.

GBP/USD still near session lows on Carney’s presser

GBP/USD is now attempting to rebound from daily lows following the press conference by Governor M.Carney, currently hovering over 1.3160/50 after dropping as low as the 1.3140 region.

About Mark Carney 

Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.

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