Forex Flash: BoE changes Governor, but not the 'status quo' TDS
FXstreet.com (Barcelona) - According to TD Securities analysts, the Bank of England will be joined by Bank of Canada Governor Mark Carney as next Governor in July 2013, although this "do not anticipate that the appointment of Mark Carney to the Bank of England will lead to drastic changes at the Bank of England," TDS think, adding: "Carney will not necessarily be as hawkish as the market expects, but will be dovish when conditions warrant," they conclude.
At the same time, TDS resumes: "We view Senior Deputy Governor Macklem as the presumptive internal candidate to become Governor of the Bank of Canada in July 2013. We do not expect any major shifts in the Bank's mandate with Macklem at the helm. The emergent focus on preserving financial stability will likely lead to a more hawkish central bank, though it remains far too early to position for such a shift given the considerable downside risks that shroud the current outlook."
At the same time, TDS resumes: "We view Senior Deputy Governor Macklem as the presumptive internal candidate to become Governor of the Bank of Canada in July 2013. We do not expect any major shifts in the Bank's mandate with Macklem at the helm. The emergent focus on preserving financial stability will likely lead to a more hawkish central bank, though it remains far too early to position for such a shift given the considerable downside risks that shroud the current outlook."
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