Super Thursday does not make things super clear

The simultaneous release of economic documents does little to improve market understanding of the UK economy

"Super Thursday" didn't quite live up to the grand billing. The moment of the first hike in interest rates is getting closer, said the Bank of England governor, Mark Carney, but it is also clear that this song could remain the same for some time. Only one member of the monetary policy committee, not the expected two, voted for a rate hike. It is now highly unlikely that interest rates will rise this year.

Despite Carney's many references to "robust momentum" in the economy, next May is viewed by financial markets as the most likely moment the Bank increases the cost of borrowing. The mildly dovish message was echoed in the currency markets: the pound fell 0.75%.