According to ING analysts, BoE’s policymaker Silvana Tenreyro has backed the market’s dovish expectations which indicates that the inflation outlook may not justify a rate hike.
Key Quotes
“The OIS curve was broadly stable on the comments. Meanwhile, former Prime Minister John Major has threatened a judicial review should Boris Johnson bypass parliament to force a no-deal exit.”
“The option of suspending parliament continues to face fierce opposition across UK politicians, which may keep no-deal Brexit probabilities in check for now. In turn, GBP may consolidate current gains versus the USD today, while holding below 0.90 against the euro.”
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