James Smith, developed markets economist at ING, suggests that today, in its March meeting, the BoE has kept its cards close to its chest when it comes to the prospect of rate rises, simply saying that further tightening may be required. Key Quotes “Importantly though, we think it’s too early to completely rule out a rate hike this year – although of course, this depends almost solely on Brexit.” “The Bank’s forecast of excess demand at the tail-end of its forecast period implies that more tightening could be needed than currently priced into markets.” “You could reasonably argue that with the Federal Reserve and the ECB seemingly on pause for the foreseeable future, it’s hard to see the Bank of England going against the grain. But barring a more severe global downturn in growth, we suspect policymakers will be more inclined to play ‘catch up’. For this reason, we’ve loosely pencilled in a rate hike for November.” “For the Bank of England outlook, a lot depends on how long the Article 50 negotiating period is extended.” “On balance though, we suspect ‘no deal’ would cause a substantial hit to confidence (in addition to significant disruption to supply chains), which makes it much more likely the Bank would decide to cut interest rates in this scenario.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next The proper trading analogy is very simple to do Guest 4 years James Smith, developed markets economist at ING, suggests that today, in its March meeting, the BoE has kept its cards close to its chest when it comes to the prospect of rate rises, simply saying that further tightening may be required. Key Quotes "Importantly though, we think it's too early to completely rule out a rate hike this year - although of course, this depends almost solely on Brexit." "The Bank's forecast of excess demand at the tail-end of its forecast period implies that more tightening could be needed than currently priced into markets." "You could reasonably argue that with… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.