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13 Feb 2015

Mark Carney’s Comments Lift Sterling

Mark Carney stated yesterday that the BoE is likely to stay on its course of raising interest rates next year, although the prospect of a rate cut cannot be ruled out if Britain’s inflation remains low for a prolonged period. Additionally, after the BoE’s lowered the short term inflation forecast in its quarterly report yesterday, he indicated that this downgrade is unlikely to impact Britain’s economic growth for 2015. Earlier today, the flash GDP readings from Europe revealed that economic growth in Germany remained buoyant for the last quarter of 2014. Investors will now eye the Euro zone’s preliminary GDP readings for further direction. Across the Atlantic, today’s flash Reuters/Michigan consumer sentiment survey will keep investors interested in the latter half of the trading session.