Quote from a Yorkshire Post newspaper interview published today but no shift in stance; Nemat “Minouche” Shafik is the recently appointed dep gov for markets and banking and former deputy managing director of the International Monetary Fund; GBPUSD a tad higher at 1.6328 EURGBP on session lows of 0.7817; wage growth with productivity gains can delay rate rises; productivity gains will guide rate increases; UK recovery is “encouraging” but have to find ways to sustain ; Europe poses significant risks to UK economy; BOE asset sales are still “a way away”; If wage increases are expected but productivity is performing ... (full story)