BoE member delivers speech on the outlook for Britain’s recovery from the financial crisis. The speech will be followed by Q&A.
- UK Yield curve currently very flat
- November yield curve pushed cpi forecast over 2% in 2 years
- Output much closer to potential than in 2012
- Officials not solely concerned with inflation
- Shocks can lenghten time to return CPI to target
Pound jumps following his comments. GBP/USD breaks and settles well above 1,5200.