BOE's Ramsden: The fall in sterling after Nov hike was a result of pre-hike rise

Ramsden continues in parliament

  • Financial markets are pointing to an increase in bank rate by end of next year, consistent with yield curve
  • Debt to income ratio still markedly below pre-crisis levels
  • It's possible that relationship between slack and wages has changed
  • Brexit is reinforcing post-crisis weakness in productivity

Nothing particularly notable but the pound has bounced a dozen pips from the lowest levels of the day.

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