BoE's Cunliffe: When ‘true brexit’ is revealed, path is clearer, you will see exchange rate move

Below are some of the key highlights, via Reuters, from the BoE MPC member, and Deputy Governor Financial Stability, Jon Cunliffe's re-appointment speech.

• BoE doesn’t believe need to get rates higher to have ammunition for a future downturn in economy.
• When ‘true brexit’ is revealed, path is clearer, you will see exchange rate move.
• Not much slack left in UK labour market.