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BoE's Carney signals economic developments to influence policy decisions

FXStreet (Łódź) - Speaking in an interview for CNBC, BoE governor Mark Carney did not hint at any changes to the monetary policy in the nearest future, pointing out instead that the pace of the global recovery has slowed down recently and that the central bank would take the developments in the Eurozone into account when deciding on rates.

"In addition, we really are concentrating on the labor markets which will be as important as external developments for the path of monetary policy," Carney said.

Low inflation and weaker global demand, resulting in a benign inflation backdrop, are of concern for the BoE right now. Rising market volatility is not as worrying however because in the opinion of Carney it is a natural consequence of recent monetary policy changes and the divergence emerging between economies.

GBP/USD ticked up to 1.6100 on the news.

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