BOE MPC member Weale testifying

Carney:

  • agrees with Weale
  • will take exchange rate as a given
  • MPC will make decision on mon pol regardless of where GBP is at the time

Shafik:

  • near term impact of GBP moves will play out over a longer period of time

Vlieghe:

  • MPC believes fall in GBP is due to uncertainty
  • sees risk of EU vote affecting business confidence
  • weaker GBP might offset other economic weakness but not guaranteed

No negative vibes on a weaker pound and that's enough to see GBP slapped lower again.

GBPUSD 1.4086 EURGBP 0.7816