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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.

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