British Pound Plunges after BoE Says Guidance Coming The sterling was the worst performer on the day – thanks to the Bank of England (BoE). At his first official meeting at the helm of one of the world’s largest central bank, Governor Mark Carney didn’t introduce the stimulus that many had expected him to usher in. If the market were heavily positioned for an immediate escalation of bond purchase, the FLS program or something similar; the pound would have rallied on the hold. However, we can see that the reaction was exactly the opposite as the unrealistic price was tempered well before the event. What Carney would offer is guidance. Shedding the cloak of silence on rate holds, he noted volatile asset markets and trouble with rising yields.
Posted on: Fri, 05 Jul 2013 10:06:37 +0000
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