Carney Speech: BoE growth forecasts do not rely on UK consumer or consumer borrowing

Mark Carney, Governor of the Bank of England (BoE), is responding to questions from the press, with key headlines, via Reuters, found below:

• BoE growth forecasts do not rely on UK consumer or consumer borrowing
• Main cause of above-average target inflation is drop in Pound
• The economy isn’t being driven by consumer borrowing
• We have not learnt anything more about Brexit outcome over last three months

Key notes:

GBP/USD still near session lows on Carney’s presser

GBP/USD is now attempting to rebound from daily lows following the press conference by Governor M.Carney, currently hovering over 1.3160/50 after dropping as low as the 1.3140 region.

GBP/JPY tumbles 150-pips post BOE announcement

The GBP/JPY cross witnessed a sharp reversal from 2-week high level of 146.80 and tumbled nearly 150-pips post BOE decision.

About Mark Carney 

Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.