Markets

Carney says scale and direction of GBP move suggests markets expect slower UK growth and reduced openness

BOE gov Carney back in the spotlight at the TSC testimony 15 Nov

  • market view is more downbeat than consumer view
  • at some point that difference will have to be resolved
  • Brexit affecting investment for about 45% of firms surveyed by BOE
  • usually there is a 4-7 year transition period between agreeing and fully implementing trade deals
  • too early for companies/banks/insurers to make contingency plans
  • planning makes sense but action right now is precipitous

Meanwhile GBPUSD back to 1.2413 as EURGBP drifts back to 0.8680

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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