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BoE quiet on Brexit

Monday, Jan 25 2016
It's a new year and Bank of England officials have been sharing their views on the outlook for the U.K. and the risks. However, their official communications offer no guidance on what economists say is the top risk facing the U.K.: the forthcoming referendum on its membership in the European Union. 
 The absence of "Brexit" analysis from the BOE is getting conspicuous. Last October, Carney skirted the tense political battle with a speech that addressed the U.K.’s relationship with Europe, but offered no final conclusion on its merits. His remarks were accompanied by a 100-page report that assessed the issue but offered no judgment on the impact on the U.K. economy of a British exit.
 
Carney went a step further last week, insisting that not only has he said nothing on "Brexit," he's not planning to, either. He told the Wall Street Journal: “We have said all we are going to say about that. We deal with the facts on the ground and the facts on the ground are the status quo. Our job is to make the status quo work as effectively as possible.”
 
Sterling is currently being traded around 1.4260 handle. Pair is likely to find support around 1.42 handle and resistance above 1.4350 level. There will be no major data releases in the rest of the session.
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