Whilst we are clearly coming to the end of the period of extremely cheap money globally – the Fed has raised rates 4 times in 2 years for example – Mr Carney’s comments were dovish on the future path of interest rates

Following the UK’s vote to leave the EU, there is likely to be a period of uncertainty in the short-term.

As more developed economies appear to have reached the limit of desired monetary policy (rate cuts and quantitative easing), it is likely the focus will change to fiscal policy.