Bank of England governor Mark Carney has been heavily criticised in UK media 13 May 2016

During Carney's presser yesterday Carney was asked by a couple of attendees whether the UK could face recession if we vote to leave the EU and he replied that "Brexit scenarios could include possible technical recession" which I reported here.

I had said in my preview, and other posts previously/following, that he and the BOE were between a rock and a hard place re Brexit. People want to know what their view is yet Carney has repeatedly said it's not in their mandate/job spec to deliver a definitive assessment.

He said lots of different things yesterday but it was the use of the word "recession" that has the media/politicians flapping and there's been a huge amount of coverage/criticism that he's overstepped the mark and taken sides with the scare-mongering Remain camp who,via the government's official stance, are in effect his paymasters.

Ok, so maybe he shouldn't have taken the bait in his reply and ducked out of using the R word in his reply but this reaction, imho, is hugely overcooked and symptomatic of the hype currently being thrown down our necks on a daily basis. He was simply setting out one of the scenarios that might happen on a Brexit outcome but that hasn't stopped calls for his resignation by the likes of Tory Jacob Rees-Mogg ( his tormentor at the recent Treasury Select Committee appearance) amidst a plethora of bloated coverage.

There are many unknowns about Brexit and indeed quite a few unknowns about the impact in the aftermath of voting to stay in the EU should that be the outcome. Carney & co at the BOE have no crystal ball, runes, or stastictics/calculus to make a definitive judgment and he has been at pains to highlight that. Joe Public and the markets may want such an assessment but it's all a crap-shoot.

I write this not from any political or scare-mongering/voting stance. Merely to highlight the attention/hype that's being paid to this right now. The pound's reaction to the so-called ( not by me) Super Thursday announcements has been muted as I suggested it might prior, and after, and I don't expect any great change to recent ranges for the foreseeable future.

Range-trading remains the order of the day but plenty of opportunity to be had by those who choose to play it.

BOE's Carney under fire but he sits between a rock and a hard place