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- BoE: Expect a muted reaction to the upcoming meeting - TD Securities
BoE: Expect a muted reaction to the upcoming meeting - TD Securities
Analysts at TD Securities suggest the BoE's hiking bias is likely to be diluted even further at the November meeting, with more of a balanced message instead and a rewrite of the rate guidance in the final paragraph of the Monetary Policy Summary.
- "When the Bank of England meets again on Thursday, the big question of the day - Brexit - remains unsettled, with a deal on the table that parliament was unable to pass, and another deadline extension from the EU.
- At the same time, growth momentum has slowed further and some of the previously solid areas of the economy, like the labour market, have begun to falter.
- Once again, we think the FX market is only likely to give the November MPC meeting a passing glance. With the campaign ahead of the 12 December general election now gearing up rapidly, investors remain intensely focused on UK political risks. Ultimately, the outcome there - and what that implies for the future of Brexit - will continue to be the overwhelmingly dominant driver of sterling for the foreseeable future."
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