BoE Governor Carney Speech at the IMF - Live

The Bank of England Governor Mark Carney will be delivering a speech at the 2017 Michel Camdessus Central Banking Lecture at the IMF Headquarters in Washington DC. His lecture is scheduled to start at 15:00 GMT. 

"Michel Camdessus Central Banking Lecture series highlights the IMF's commitment to collaboration with member countries' central banks and provides a forum to discuss topical issues in central banking," the IMF explains. Investors will be looking for hints regarding a monetary policy move. The BoE meeting last week and Carney's remarks signaled towards a rate hike as the weakness of the GBP was assessed as being the primary reason behind the rising inflation, allowing the GBP/USD pair to rise nearly 400-pips last week.

“Any BoE-fuelled sterling rally may be on its last legs; what we have defined as a ‘withdrawal of stimulus’ hiking cycle is now priced into the currency. Anything more would be an overshoot in our view and we, therefore, expect Governor Carney’s speech at the IMF (International Monetary Fund) today to acutely manage market expectations,” Viraj Patel, Foreign Exchange strategist at ING, told Reuters.

Key Notes:

GBP/USD down little, around mid-1.3500s ahead of BoE’s Carney

The GBP/USD pair now seems to have entered a consolidation and was seen oscillating within a narrow trading band around mid-1.3500s. 

BoE to hike over the coming months – TDS

The latest BoE’s MPC gave a clear signal to markets that they stand ready to increase interest rates should excess slack continues to erode, according to analysts at TDS.

About Mark Carney 

Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.