European Session – Sterling little changed after Mark Carney testimony
Posted on November 26, 2013 at 1:22 pm GMTThe main focus today was on the Bank of England inflation report hearings during which BOE Governor Mark Carney gave his testimony on the UK economy before the UK parliament’s Treasury committee. Sterling was mixed as markets tried to digest Carney’s comments that the government’s 7% unemployment rate target is merely a threshold and not a trigger for rising interest rates. The BOE attempts to give forward guidance on interest rates by linking them to an unemployment threshold, in an [..]