- Q4 GDP considerably weaker than Q3 GDP.
- MPC will continue to assess merits of a rate cut.
- GBP drop was needed for UK rebalancing.
- Some aspects of CPI-targeting remit could be reviewed.
- UK inflation to remain above target for much of 2013.
- GBP/USD fell 25 in immediate reaction to these comments from King; moving from 1.5870 to 1.5845.
Print 19:45, 22 Jan 2013 - BoE - Source: Newswires
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: