Rate undercut by comments from BoE's..........>

CABLE: Rate undercut by comments from BoE's Carney, hitting fresh lows at

$1.3051, with bears eyeing next levels of support at $1.3025 and $1.2993.

Highlights of his speech include:

- The bar for changing the monetary policy framework is high, but it is

nonetheless healthy to review it periodically.

- There is sufficient headroom to at least double the August 2016 package of

Gbp60bln in asset purchases a number that will increase with further gilt

issuance. That would deliver the equivalent of around a 100 basis point cut to

Bank Rate on top of the near 75 basis points of conventional policy space.

- Markets are interpreting the speech dovishly, with GBP off against all others

and Gilt futures on the front foot.