Following last week's decision from the Monetary Policy Committee to leave interest rates on hold, the Governor of the Bank of England provided a daily downbeat assessment of the UK economy.Andrew Bailey spoke of two years when the economy will basically stagnate, while there remains a possibility that the Bank may be forced to hike rates again as the economy suffers from an extended period of high inflation.He went on to say that the likelihood that interest rates will have to remain higher for longer, increasing the possibility of the country falling into recession.Overall, the base case for the Central Bank is for inflation to continue to fall sharply over the next few months, but the MPC will need to continue to be aware of the possibility for “inflationary shocks”, given the current state of the global economy.Despite this gloomy outlook, Kemi Badenoch, the trade minister gave a surprisingly upbeat view of the country’s efforts to increase its trading position post-Brexit.Beyond Currency Market Commentary:Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.