The MPC hawk continuing his bullish talk
- risk of overshooting inflation target in 2017
Oh really? I'm thinking he's talking his book there
- core inflation is a lot higher than headline CPI
- next move in interest rates will be up
- but theoretically possible to cut rate if needed
- downside risks have increased recently
- QE would still have positive effect if needed
- MPC very conscious of sensitivity of various groups to rate hikes
- UK's EU membership is a political issue
GBPUSD now trawling below 1.5480 as EURGBP takes out 0.7350 offers/res on renewed euro demand and McCafferty offering up an olive branch to the bears
Heads Up: BOE gov Carney is now up before the Treasury Select Committee
