BOE’s Fisher: Must not be complacent about recovery

BOE MPC member Paul Fisher says there are signs Britain’s economy may be starting to recover but policymakers should not be complacent.

Fisher says output is likely to fall in the second quarter and warns that there is a “major downside risk” to growth from ongoing problems in the financial sector.

Comments not likely to help cable, which remains heavy, presently at 1.6485, just above technical support at 1.6480. Below there we have support at 1.6440/50.