20 Nov 2013
Flash: OECD raises growth prospects for UK economy - BTMU
FXstreet.com (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that the OECD raised its growth outlook by the most for the UK economy.
Key Quotes
“It now expects that real GDP in 2014 will expand by 2.4% which is still less optimistic than the BoE’s latest forecasts in the QIR. The accompanying minutes from the 7th November MPC meeting will be released today.”
“They are expected to echo the policy message from the press conference which accompanied the release of the QIR, and as such should have little impact upon the pound today. Governor Carney has been keen to stress that the first rate hike may not occur as soon as the 7.0% unemployment threshold is met.”
Key Quotes
“It now expects that real GDP in 2014 will expand by 2.4% which is still less optimistic than the BoE’s latest forecasts in the QIR. The accompanying minutes from the 7th November MPC meeting will be released today.”
“They are expected to echo the policy message from the press conference which accompanied the release of the QIR, and as such should have little impact upon the pound today. Governor Carney has been keen to stress that the first rate hike may not occur as soon as the 7.0% unemployment threshold is met.”