Bank of England Governor Mark Carney is now responding to questions from the press with key quotes, via Reuters, found below.
“We want to continue to work to address financial market fragmentation at G20 and G7 forums.”
“Global trade imbalances will not be solved by new goods trade agreements. Countries with large trade deficits have a comparative advantage on services, such as the US and the UK.”
“As Brexit uncertainty lifts, UK neutral interest rate would rise, this is not a factor affecting the Fed or the ECB policy.”
GBP/USD volatile around 1.3050 following the BoE event.
The Sterling struggles for direction following the BoE steady stance at today’s meeting, motivating GBP/USD to gyrate around the 1.3050 area for the time being.
Bank of England forecast sees GDP in 2019 +1.5% vs +1.2% in February.
According to the updated economic projections in the Quarterly Inflation Report, the Bank of England forecasts the economy to expand by 1.5% in 2019, higher from the 1.2% reported in February’s publication.
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