BOE still a galah, no budge in bond buying or rates.
It is difficult to put yourself in the shoes of another.
In Australia, we are fortunate to have comparative advantage in mineral resources, and to a lesser but important extent, the softer commodities. Generally, we are seen as a low sovereign risk, common law environment and a safe option over the Asia/Oceanic powerhouse economy.
Spare a thought for the UK - an ancient financial, insurance and trading hub, now disrupted by Brexit and technology. Probably not a lot of comparative advantage there anymore. The implications for Britons are far-reaching, but it is at least fair to say the UK economy will find it difficult to recover for some time. A lot will depend on whether comparative advantage can be retrieved through advantageous international trading arrangements post-Brexit.
Is this possible? Time will tell, but in the meanwhile imported inflation as a result of a weak Sterling is the reality.
While tempted to move now to improve buying power and create dry powder for a 'just in case' future, stubborn real wage decline and massive household debt in the UK resulted in not so much as a budge in the BOE's program, yesterday.
Still, with free and easy money, it is no wonder British households loaded up - and therein lies Mark Carney's answer.
Enjoy the weekend.
Sign up for our NextPerspective newsletter here.