Carney: We do not take a view on the level of the pound

Carney knocks back any talk of the BOE having a target for sterling

• Large moves in sterling have and have had a persistent pass through on inflation
• Impact of sterling on inflation shows up over several years
• We shouldn't expect tighter mon pol conditions through stronger sterling to remove need for higher rates
• We will put moves in the pound into context
• We have had a very large move in sterling but it is not the dominant factor in the outlook on inflation

That's a vastly different view from his brother-in-arms Mario Draghi who was very insistent about the move in the euro having a sizeable impact on inflation