Analysts at TD Securities expect a 9-0 MPC vote to keep BoE’s policy on hold Thursday and retain a cautious tone on the pace of future tightening.
Key Quotes
“Macro data continues to support the August projections. Once political uncertainty has dissipated by March 2019, the BoE should deliver two hikes in 2019.”
“Given recent moves in short sterling, the front-end could see yields tick down on an uneventful BoE.”
“FX: Our base case implies modest downward pressure on GBP after a decent run in recent weeks. A largely unchanged outcome suggests sterling will remain contained within recent ranges as investors remain focused on larger concerns elsewhere.”
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