BOE governor testifying to the TSC still 12 July 2016
– credit demand now more important than supply
– by reducing the capital buffer at last meeting it should increase balance sheet capacity
That refers to the need to get money out in to the system to encourage growth. GBP enjoying another feel-good rally on attempts to stimulate growth. GBPUSD posts 1.3186 as EURGBP falls through 0..8450 and accelerates to 0.8425