BOE deputy gov for monetary policy and MPC member in a scheduled speech 23 March
- probably reflects market judgement that economic supply-side of UK likely to weaken after Brexit
- exporter's sweet spot unlikely to last indefinitely, makes investment decisions tricky
When will the bank accept that we are a nation of importers now and even our exporters have to ship in goods so a weaker pound has no real "sweet spot"
- we may already be seeing the impact of squeeze on retail spending
We saw it last month and we don't have long til 09.30 GMT to find out this month's reading
- MPC has no particular expectation of forthcoming Brexit negotiations
Does anyone ?
Full speech at London's Imperial College entitled "Brexit and the pound" here. Will be worth a read when you get time.
GBP wobbles a little further helped by GBPJPY supply again. GBPUSD 1.2468
