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Not surprised markets pushed back rate hike timing – BOE’s Broadbent

FXStreet (Mumbai) - Bank of England (BOE) member Broadbent was on the wires on Thursday stating that he is not surprised that markets pushed back the rate hike timing given the global outlook.

Key Quotes

BOE is "certainly not unconcerned" about emerging market risks

BOE must weigh up "fairly robust" UK recovery against weakness in rest of world

Unit labour cost growth still weak, needs to grow faster than 2% for BOE to hit CPI target

Looking for similar growth in Q3 as in Aug forecasts, will have to wait and see for Q4

Latest manufacturing data and export surveys show "some tailing off"

Sweden Producer Price Index (YoY) dipped from previous -0.6% to -1.4% in August

Sweden Producer Price Index (YoY) dipped from previous -0.6% to -1.4% in August
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GBP/USD remains under pressure – Commerzbank

According to Axel Rudolph, Senior Technical Analyst at Commerzbank, the current weakness around the pair leaves the door open for further pullbacks...
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