Carney strikes down hawks, Lira trades sideways

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Buying sentiment towards the British Pound deteriorated sharply yesterday, after dovish comments from Bank of England’s Governor Mark Carney heavily diluted expectations of an interest rate hike in May.

Carney’s cautious tone and his acknowledgement of recent “mixed” economic data, planted a seed of doubt among investors that the central bank will take action next month. With inflation cooling, retail sales disappointing and a dovish Carney entering the scene, Sterling bulls could be in trouble. The probability of a rate hike in May plunged to below 50% (down from 70% before Carney spoke)… Read More

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