Former BOE's Gieve says Carney & Co are sat between a rock and a hard place over Brexit

Former BOE Financial Stability Head John Gieve speaking to Bloomberg 20 June 2016

• while Brexit could mean interest cuts or other stimulus to support growth the Governor may also have to be wary of increasing falls in the pound

There will be a shock to demand, so that means there will be something pressing them to make policy more expansionary.

But there will also likely be a fall in the exchange rate and a shock to inflation which will go the other way."

Gieve highlighting the dilemma that Carney & Co face, as we've done here previously, should Brexit prevail.

Mind you given that Gieve was head of the FSB as we veered toward the 2008 crash ( he left in 2007) you might want to pin your faith elsewhere.

Meanwhile GBPUSD held on to the fresh 1.4600 demand that I highlighted earlier and now 1.4637