2 Jul 2013
Flash: New era for BoE – Investec
FXstreet.com (New York) - Earlier today, Mark Carney who finally took up the mantle of Governor of The Bank of England – after several months of hype it will be interesting to see the impact of the new incumbent on sterling and whether any detrimental effect will indeed materialize, cautions Lee McDarby, Corporate Treasury at Investec.
We won’t have to wait long to gauge how Mr Carney will use his new powers as the first big event happens this Thursday when he chairs his first meeting of the Bank of England’s Monetary Policy Committee. The official Investec line is for no change this time around although we do see a resumption of quantitative easing in August with Carney under pressure to take some affirmative action.
Another notable event today sees Croatia become the European Union’s 28th member state, which is a show of faith in Europe and may help to keep it firm for now. “Longer-term the EU may actually want to be a little more selective rather than accepting countries in their 5th straight year of recession.” McDarby adds.
We won’t have to wait long to gauge how Mr Carney will use his new powers as the first big event happens this Thursday when he chairs his first meeting of the Bank of England’s Monetary Policy Committee. The official Investec line is for no change this time around although we do see a resumption of quantitative easing in August with Carney under pressure to take some affirmative action.
Another notable event today sees Croatia become the European Union’s 28th member state, which is a show of faith in Europe and may help to keep it firm for now. “Longer-term the EU may actually want to be a little more selective rather than accepting countries in their 5th straight year of recession.” McDarby adds.