Carney spoke to Sky News
- Today's figures are consistent with BOE forecast that inflation to overshoot target for some time
UK CPI missed expectations today at 2.6% y/y vs 2.9% expected.
Cable is higher on this comment. The thinking is that the miss doesn't change Carney's expectation for a rate hike.
More:
- Big picture on inflation remains the same
- Fall in sterling is pushing up prices