Carney tells us that the world's central banks don't know what they are going to do individually, let alone what others are going to do

  • World CB's do have some discussions on prospective paths for interest rates
  • Little of these discussions covers material not already in the public domain
  • Only time CB's have coordinated (in his experience) was when in the depths of the financial crisis
  • If we ever needed to we could cut rates below current levels but nothing like that has been discussed in the meeting
  • The fact we are not at the zero lower bound weakens the argument for not raising rates

He ends

I'm calling cobblers on the fact that CB's don't discuss their rate plans. They all know what they are doing behind the scenes

Anyway, as expected the market has waited until the last hawkish risk was removed via the end of the presser to continue south to a low of 1.5228. We broke the 1.5240/50 area so watch for that to become resistance