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BoE: A 2019 move is possible – TDS

Analysts at TD Securities are expecting that the tone of Thursday’s BoE to suggest they cannot sit on the Brexit sidelines forever.

Key Quotes

“A rate hike isn’t likely near-term, but the MPC may want to suggest a 2019 move is possible.”

“FX: With GBP back in familiar ranges vs both USD & EUR, the MPC may provide some tradable near-term direction. We do not, however, expect the BoE to launch sterling on a new longer-term trend until fresh catalysts emerge.”

“Rates: From pricing in rate cuts early this year, we are now pricing in around 9bps of rate hikes in 2019. A hawkish tilt from the BoE continues to support this move.”

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