Carney takes a settled approach after some dovish news
There were two main standout points from this event
- McCafferty changing his mind (again)
- Lower economic forecasts
There was nothing else that came out his mouth to add to that and there's two reasons why the above isn't worth toffee
- History repeats itself and shows just how flaky he can be
- Lower forecasts? - No s**t Sherlock
Take all that into account and the MPC announcement and presser wasn't in the slightest dovish. It wasn't hawkish in any sense either but sometimes not being one thing is good enough to get a reaction in a currency.
Carney played a calm hand and gave the market nothing to cling on to. For the pound, we'll quickly switch now to watching other events going on and will be at their mercy. Forget trading it on the BOE for now.
Probably the best moment was some cheeky chap asking if he's going to become the first governor in nearly 50 years not to raise rates. Probably an apt time to introduce you all to Livesquawk's owner Harry Daniels ;-)
Livesquawk: Hitting Carney where it hurts
So move along, there's nothing to see here now. Over to the yanks and their big mess