Bank of England Governor Mark Carney is now responding to questions from the press. Key quotes (via Reuters) Given how low UK productivity is, wage growth in upper 2 pct to low 3 pct range is consistent with the inflation target. Weak Q1 productivity growth is an aberration. People shouldn’t assume bank rate will rise to 2-3 pct range because shorter-term factors are pushing equilibrium interest rate below that. If UK productivity, fiscal headwinds, and uncertainty improve, then equilibrium interest rate will move closer to 2-3 pct range. Related articles BoE MPC votes 9-0 to raise interest rates by 25bps. In its latest monetary policy meeting, held this Thursday, the BoE MPC voted 9-0 in favour of raising its key lending rate by 25 basis points to 0.75%. GBP/USD under pressure near 1.3020 on Carney. After moving above 1.3100 the figure in the wake of the BoE’s interest rate hike, GBP/USD has now come under further selling pressure and probes lows around 1.3020. 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. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Central Banks trifecta paves a path to the data – TDS FX Street 5 years Bank of England Governor Mark Carney is now responding to questions from the press. Key quotes (via Reuters) Given how low UK productivity is, wage growth in upper 2 pct to low 3 pct range is consistent with the inflation target. Weak Q1 productivity growth is an aberration. People shouldn't assume bank rate will rise to 2-3 pct range because shorter-term factors are pushing equilibrium interest rate below that. If UK productivity, fiscal headwinds, and uncertainty improve, then equilibrium interest rate will move closer to 2-3 pct range. Related articles BoE MPC votes 9-0 to raise interest rates by 25bps.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
