Mark Carney is famous for telling markets what he will do and then doing something else. It is only fitting that he left investors clueless ahead of his last interest-rate decision as Bank of England governor. On Thursday, the BOE left interest rates unchanged at 0.75%, arguing that a slowdown in U.K. economic growth is offset by the potential for a post-Brexit bounce. Consensus expectations of a rate cut, as indicated by derivatives markets, unwound sharply. Until recently, many investors thought that rates would actually...

Source: Wall Street Journal January 30, 2020 15:22 UTC