GBPUSD A report today will confirm that the economy expanded 0.7 percent in the third quarter, according to a separate Bloomberg survey of analysts. “There’s a substantial degree of uncertainty around the degree of spare capacity in the economy,” Carney said in his testimony to Parliament’s Treasury Committee yesterday. The U.K. still “requires monetary stimulus to grow above trend and bring inflation back to target,” he said. Forward contracts based on the sterling overnight interbank average, or Sonia, show traders have delayed bets for a 25 basis-point increase in the U.K. benchmark rate to beyond October. Three months ago, the market was priced for an increase in February. The Citigroup Economic Surprise Index, which measures whether U.K. data are above or below market expectations, was at minus 28.6, down from this year’s high of 37.1 in February. It slipped to minus 43.7 on Nov. 7, the lowest since March 2013.
Posted on: Wed, 26 Nov 2014 09:37:10 +0000
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