020 7898 0500Sterling pushed slightly higher yesterday as the effect of BoE Carney’s comments were unwound slightly. Yesterday, the BoE Chief Economist Andy Haldane stated that we could see a rate hike in the second half of the year.
Haldane stated leaving a rate hike until too late risks steeper rate rises in the future. This leaves sterling even more vulnerable to volatility as two key economists appear to have differing views.
In the meantime, the Queen’s Speech reopened Parliament and could set the tone for the next two years. Of the 27 bills announced, eight directly relate to Brexit and the implications it could have for key industries.
Looking to the day ahead, we have the CBI industrial orders which analyse future bookings. In addition, BoE voting member Kristin Forbes is due to speak at the London Business School after the European markets close. Sterling movement could depend on what she says.
