ROHR COMMENTARY Excerpt for MyTradingBuddy
Friday, November 6, 2015
Bank of England rates straight shooter
It is refreshing to hear candor from a central banker. While there are times when central banks need to ‘fudge’ their communication on either the economy or their intentions for a short time, this has reached ridiculous proportions of late for some. On the other hand, the message from Bank of England Governor Carney Thursday morning was crystal clear and on target.
While he never said this in so many words, we interpret the bottom line from the Inflation Report press conference as, “Yes we were a bit more hawkish and upbeat on the economy previous. But things change; get over it.”
As Carney took pains to remind everyone that as he was communicating a summary view on behalf of the Monetary Policy Committee, it is possible the other members might not have shared his blunt rejection of any ‘error’ or ‘mischaracterization’ in previous BoE views.
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