The Bank of England holds a key policy meeting on Thursday. What can we expect to hear from policymakers at the meeting, and what is the near-term outlook for GBP?
Here is their view, courtesy of eFXdata:
TD Research discusses its expectations for next week’s BoE policy meeting.
“We’re in line with consensus in looking for the Bank of England to announce £100bn of further QE at the June meeting, with the risks lying toward even more QE. We do not expect any further details, nor even specific mention, of other policy options like negative rates or YCC,” TD notes.
“FX Equity market gyrations make the near-term GBP outlook uncertain as it remains highly sensitive to risk appetite. Sterling may benefit on a larger-than-expected package, but we expect disappointment may be punished. Within this, sentiment may define the scale of any such moves,” TD adds.
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