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Quite stunning when he came out with a bullish forecast a few months ago; the reversal now seems equally odd. Apart from the economics, it’s a rather bizarre pattern in total. It’s as if he’s attempting some sort of broad brush, countercyclical (contra the herd), quasi moral suasion, expectations stabilization function.

I suppose there might be some expectations management going on here. If possible, it's worth trying to talk down the exchange rate and long-term interest rates.

Did Carney ever work on or near a trading desk?

I thought his earlier bullish remarks were inappropriate but in hindsight from the perspective of an active trader, Carney was spot on!

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