Sterling slides as Carney casts doubt over May rate rise

Snow-Hit Start to 2018 May Shape Next BOE Move

Speaking in Washington, Mr Carney alarmed pound traders by saying: "We have had some mixed data". An Article by The Telegraph reported without naming the source that European Union has rejected Britain's proposal for avoiding a hard border in Northern Ireland post a meeting between senior European Union officials and Olly Robbins, the UK's lead Brexit negotiator in which the proposal was subjected to detailed forensic rebuttal where "it was made clear that none of the UK's customs options will work".

"Given the mixed signals the Bank of England are sending out it is hard for investors to make any decisions based on where interest rates might be".

Investors had already started to doubt the Bank would attempt a second interest rate rise this year in November, but until yesterday a first, in May, had been heavily priced in. "It is more about the general path". "We'll sit down calmly and look at it all in the round", Carney said.

'I am sure there will be some differences of view but it is a view we will take in early May, conscious that there are other meetings over the course of this year'. Also, Thursday's release of disappointing retail sales data continued to weigh on the currency into Friday's trading session in Asia.

Economists are predicting two if not three more U.S. interest rate hikes before 2019.

Britain's pound has been knocked off its recent strong gains by comments from Bank of England governor, Mark Carney, that.

Moving Stocks: Intelsat SA (NYSE:I), NXP Semiconductors NV (NASDAQ:NXPI)
The semiconductor provider reported $3.06 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $1.61 by $1.45. It is negative, as 49 investors sold MU shares while 245 reduced holdings. 24 funds opened positions while 50 raised stakes.

Shares in QUALCOMM, Inc. (NASDAQ:QCOM) Acquired by KHP Capital LLC
The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink . Ar Asset Management Inc, which manages about $494.99M and $259.74 million US Long portfolio, upped its stake in At&T Inc.

Dominic Thiem Beats Novak Djokovic at Monte Carlo Masters
Also on Thursday, Frenchman Richard Gasquet claimed his 500th career victory in defeating German Mischa Zverev 6-2, 7-5. Thiem demonstrated past year in Rome that he is one of the very few players able to hit through Nadal on a clay court.

"And then we will adjust to the impact of those decisions".

Michael Saunders - one of two officials to vote to raise interest rates last month - said growing domestic inflation pressures and a solid growth outlook meant "our foot no longer needs to be so firmly on the accelerator".

Carney also said uncertainty around Brexit had prevented what would otherwise have been a "surge in investment".

There has been considerable speculation in recent months regarding the possibility of the BoE raising interest rates in May, which has lent significant strength to Pound (GBP) exchange rates.

"Should the Bank keep rates at their current level in May, Sterling will weaken further and drop below the $1.40 level against the US Dollar". "Productivity is not increasing, which will limit the rate at which people's wages can pick up".

It will be a finely balanced decision and the next important statistic to look at will be the three monthly economic growth figure next week.

Related News:



Most liked

Will West Brom make it three unbeaten this season against Liverpool?
Only after the game will we think about Roma. "We lost to them in the FA Cup, I don't need to remind anyone about that. We know that we will have to be at our very best to get a result because they are an excellent team".

Motorola 'Moto G6' series leaked ahead of launch
There is no fingerprint scanner at the front of the phone, instead the scanner is now at the back part of the Motorola M logo. Alongside the G6 series, Motorola also announced three new E series phones - the Moto E5 , Moto E5 Plus and Moto E5 Play .

Rachel Weisz announces pregnancy at 48
The actress revealed that she and James Bond star Daniel , who tied the knot in 2011, "can't wait" to meet their new addition. Rachel Weisz and her actor husband Daniel Craig are expecting their first baby together .

Where to view the Lyrid Meteor Shower in San Diego
The waxing moon should set before the meteors appear, making for ideal viewing - though meteor showers are notoriously fickle. As Accuweather explains, the radiant point in the sky is an area from which the meteors are coming from during the shower.

The end of an era: Arsene Wenger leaves Arsenal
There are plenty of former players who played here who have potential and the intelligence and the knowledge to do it. Campbell was a Premier League victor in his first season at Highbury and again, invincibly so, in 2003-04.

Nokia 8 Sirocco and 7 Plus - South African cash prices
With an 8 MP rear camera featuring automatic scene detection and autofocus, Nokia 2 ensures you get fantastic shots every time. Besides cashback offers, there is also a 25 percent instant discount if you book your stay at domestic hotels on MakeMyTrip.

HC orders WB poll panel to reschedule Panchayat elections
The Trinamool Congress has earlier celebrated winning many seats unopposed in the three-tier panchayat election. Trinamool Congress has announced that it will not move to Division Bench against this order.

European Central Bank unveils 100-ball format for new city tournament
Based on 15 traditional 6-ball overs, the other 10 balls will add a fresh tactical dimension. Once introduced, the format will see each team face 100 deliveries.

RR, CSK aim to get back to winning ways at Pune
CSK suffered a loss against Kings XI Punjab (KXIP) while RR witnessed the similar fate against Kolkata Knight Riders (KKR). But an upwards of 1000 fans are set to descend in Pune to give CSK a much-needed spark, especially from Chennai.

Dwayne Bravo: Virat Kohli is the Cristiano Ronaldo of cricket
Team India skipper said, 'I can play in any format of cricket but I can't play those shots what De Villiers plays on the ground. The all-important series will see India play England in three Twenty20 matches, three ODIs and five Tests.

Apple's upcoming 6.1-inch iPhone might be surprisingly cheap
Now, the same analyst has issued a note that Apple will also launch a dual-SIM variant of at least two models this year. To enable faster LTE speed, the company might be using Intel's XMM 7560 and Qualcomm's Snapdragon X20 modems.

Raids conducted on cash hoarders amid currency crunch in India
Amid reports of a cash crunch in some of the states, tax authorities have conducted raids to trace out hoarders. The FM said that he had reviewed the currency situation which, he said, is not too much to be alarmed about.

South And North Korea Open Direct Line For Leaders Ahead Of Summit
North Korea has long sought a peace treaty with the United States to formally end the 1950-53 Korean War. Trump said the summit could, with his "blessing", explore a peace treaty to formally end the conflict.

EU's Barnier says still 25% of work to do on Brexit
Now a cross-party group of MPs - including Conservative Nicky Morgan - have called a vote on the issue in the Commons next week. Mrs May had previously set out the UK's customs policy in a speech last month.

Stevante Clark, brother of Stephon Clark, arrested on threat charges
Stevante Clark, 25, also is accused of making criminal threats and abusing a 911 emergency line. Clark family members and their lawyer, Benjamin Crump, did not respond to requests for comment.