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Carney statement: MPC expects drag on UK........>

BOE
BOE: Carney statement: MPC expects drag on UK growth in Q2 due to stockpiling
and Brexit prep in Q1 boosting output. This should see slack in UK economy
widening in Q2 and Q3 this year. BoE bank rate market pricing has followed that
of the Fed and ECB lower in 2019. This introduces fresh market tension between
bank rate market pricing and the what eventually happens with Brexit.
- Talks through MPC assumptions of phases of a 'smooth Brexit' which is the
MPC's underlying assumption in forecasts. Nothing new here.
- MPC's projections continue to judge rate hikes at a gradual pace and to a
limited extent would be appropriate in smooth Brexit. Q&A up now.

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