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18 Mar 2015
UK job data mixed, BoE vote unanimous – BBH
FXStreet (Barcelona) - The Brown Brothers Harriman Team reviews the UK labour data release and the BoE minutes.
Key Quotes
“Jobless claims fell -31k vs. -30k expected and a revised -39.4k (was -38.6k) in January. Average weekly earnings, reported with a one-month lag, rose 1.8% in January vs. 2.2% consensus and 2.1% in December, while the January unemployment rate was steady at 5.7% vs. 5.6% consensus.”
“Bank of England minutes showed a unanimous 9-0 vote to keep policy steady. The bank was upbeat on the economic outlook, noting “mildly positive” developments over the past month. It noted that this strength coupled with divergent policy could boost sterling further.”
“The BOE added that sterling might be stronger if not for uncertainty about the May elections. Last week, Governor Carney mentioned the exchange rate (presumably EUR/GBP) as a potential factor in the BOE’s tightening cycle.”
Key Quotes
“Jobless claims fell -31k vs. -30k expected and a revised -39.4k (was -38.6k) in January. Average weekly earnings, reported with a one-month lag, rose 1.8% in January vs. 2.2% consensus and 2.1% in December, while the January unemployment rate was steady at 5.7% vs. 5.6% consensus.”
“Bank of England minutes showed a unanimous 9-0 vote to keep policy steady. The bank was upbeat on the economic outlook, noting “mildly positive” developments over the past month. It noted that this strength coupled with divergent policy could boost sterling further.”
“The BOE added that sterling might be stronger if not for uncertainty about the May elections. Last week, Governor Carney mentioned the exchange rate (presumably EUR/GBP) as a potential factor in the BOE’s tightening cycle.”