Bank of England Governor Carney Speech reflects the official position of the British regulator on the monetary policy and interest rate change trends, therefore every speech is carefully examined by the market participants and analysts.
Mark Joseph Carney has been the Governor of the Bank of England since 2013. Mr Carney often speaks in public: in addition to regular speeches in the British Parliament and the BoE's press conferences, he participates in international economic forums, speaks at congresses and conferences, and announces BoE's official statements.
The Bank of England Governor is the one who has the maximum influence on the pound sterling quotes among all other employees of the Bank of England and UK supervisory bodies. The Governor has access to the full information on the intentions of the BoE Monetary Policy Committee and the opinions of its separate members. Therefore, his statements are often carefully monitored by analysts and economists.
If Mark Joseph Carney's rhetoric suggests possible developments in the future monetary policy, such as the upcoming tightening or easing, this may have a short-term effect on the pound sterling quotes. If Carney positively characterizes the British labor market or states the inflationary growth, this can also be seen as positive for GBP quotes. All these factors can give investors a hint of a near-term increase in the BoE's interest rate.