12 Feb 2014
Flash: BoE big news on growth target boosting - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman took note of the BoE boosting the growth target.
Key Quotes
"The big event today is the BOE's Quarterly Inflation Report and the updated economic assessment and forward guidance. We noted yesterday that the implied yield of the March 2015 short-sterling had fallen by about 30 bp since January 23 as the market priced in Carney's push back against early tightening expectations. While Carney continues to argue against the need for an early rate hike, the BOE boosted this year's growth forecast to 3.4% from 2.8% (in November) and lifted its 2015 forecast to 2.7% from 2.3%."
Key Quotes
"The big event today is the BOE's Quarterly Inflation Report and the updated economic assessment and forward guidance. We noted yesterday that the implied yield of the March 2015 short-sterling had fallen by about 30 bp since January 23 as the market priced in Carney's push back against early tightening expectations. While Carney continues to argue against the need for an early rate hike, the BOE boosted this year's growth forecast to 3.4% from 2.8% (in November) and lifted its 2015 forecast to 2.7% from 2.3%."