A couple weeks ago, Bank of England chief Mark Carney sent a chill down the spine of global markets when he said rate hikes might come sooner than expected.
Now it sounds like we’re getting a little walkback.
In comments today, he’s emphasising that wage growth has been surprisingly muted and that the system still has slack, meaning inflation isn’t a big risk.
So now it sounds like there’s no rush for the Bank of England to raise rates.
As such, the pound is tanking