Bank of England Inflation Report Press Conference

Anybody have an idea what he's talking. I ain't watching him

You can watch here http://www.bloomberg.com/live/europe

buy gbp only

"the time of the first rate rise is drawing nearer, but is not necessarily imminent and its timing will be data dependent".

"...the labour market is tightening..."

Gbp gradually building inflation pressure. Buy GBP

can gbp back to 15600 after boe carney speak?

Sell GBP

I reckon Gbp-Usd is going to make another good bearish ride. Daily is on range, but Weekly is getting ready to go south towards 1.52000.

Of course especially crosses will be tumbled

After some consideration of the output from the press conference it is apparent that the BoE/MPC want everybody to know that they are going to raise rates:
- eventually
- when the data and projections are aligned
- when the rest of the world has stopped affecting the British economy by meddling with commodity prices, and pumping QE (probably).

Or maybe they are just waiting for the FED when, IMHO, they will have to follow suit; although there was also some discussion about how Sterling strength is a hindrance.

A question was asked as to whether the first rate rise would be less than the normal step, for instance 10 basis-points instead of the typical 25 basis-points. The answer given was that the 3-monthly average rise in previous raising cycles was 37.5 basis points. So no answer really.....

Thanks a lot Exodus

Monetary policy divergence from the FED and BOE & by 1Q 2016 there will be some sort of stabilization --consensus.