Pound Slides On Dovish Carney

By XTB (David Cheetham)CurrenciesJan 09, 2020 10:14

uk.investing.com/analysis/pound-slides-on-dovish-carney-200436376

Pound Slides On Dovish Carney

By XTB (David Cheetham) | Jan 09, 2020 10:14

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There’s been a move lower in the pound in recent trade after Mark Carney delivered a fairly dovish address in London.

The outgoing BoE Governor warned that the rebound projected in the bank’s forecasts for this year was not assured and stated that the pace of economic growth in the UK has slowed below its potential. Arguably the most dovish line was that the “MPC are debating the merits of near term stimulus” and the pound has responded in kind, dropping to its lowest level of the year against the US dollar and trading in the low $1.30s.

While this shouldn’t come as a huge surprise given that there has been a couple of MPC dissenters calling for lower rates at the past two policy meetings, it is the strongest hint yet for a rate cut in the not too distant future.

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Comments (1)

Yelen Shim Jan 09, 2020 14:42

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He shouldn't have spilled the beans and tell the truth.

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Pound Slides On Dovish Carney

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