Carney to Start at BoE on Canada Day

The action begins in week one for Carney, with a monthly monetary policy decision just three days into his tenure. The central bank won’t act next Thursday, according to U.K. economist Howard Archer at IHS Global Insight. But an extra 25 billion pounds ($38 billion) will be added to its current 375 billion pound QE program soon, he told CNBC.

“This possibility may well have been increased by the revised GDP data showing that the economy is currently operating at a level further below the peak level seen in the first quarter of 2008 than previously thought. Carney himself may be particularly keen to establish his presence and to build up escape velocity. A desire to counter rising bond yields could also encourage more QE,” he said.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza