BOE's Pill: Does not make sense to pre-empt market pricing judgements

"Financial markets have come to expect a lot of guidance from central banks on where rates are heading," Bank of England Chief Economist Huw Pill said on Wednesday, as reported by Reuters.

"As we move back to a more normal monetary policy situation, it's natural for central banks to withdraw from detailed guidance," Pill added. "I am not going to give any specific view of what the yield curve should look like. It does not make sense to pre-empt market pricing judgements."

Market reaction

GBP/USD continues to trade in the positive territory above 1.3570 following these comments.