BOE external MPC newbie Tenreyro still testifying to the TSC 17 Oct

  • agrees with MPC stance on timing of unwinding QE
  • should proceed very gradually when BOE starts to unwind QE
  • interest rates are more flexible tool for policy than QE
  • one estimate of equilibirium interest rate is 1%

Tenreyro still struggling in the lions den but slowly acclimatising on her first appearance as they try and catch her off guard.

GBPUSD 1.3254 EURGBP 0.8874 on the generally dovish tones from her and Ramsden.

Carney to give the hawkish spin ? Not long to find out now. He's next up at 10.15 GMT