According to James Smith, Developed Markets Economist at ING, despite a fairly mixed run of UK’s economic data, the Bank remains relaxed about the first quarter slowdown and an August rate rise still looks more likely than not. Key Quotes “The key message from the Bank of England (BoE) today is that they’re comfortable things remain on track.” “Importantly, the Bank remains just as confident that the economy is rebounding after the weak first quarter as it did back in May, pointing to the rebounding household activity as a key example.” “Policymakers also remain upbeat about wage growth – a central part of the Bank’s thinking on rate hikes – suggesting that the recent moderation we’ve seen in average earnings hasn’t fazed the committee.” “To us, this all suggests that an August rate hike is still more likely than not.” “It’s also worth noting that one extra member – Chief Economist Andy Haldane – has joined two others in voting for an immediate rate hike.” “But nothing is guaranteed – there’s still plenty of data to come between now and August.” 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 GBP futures: bottomed out at 1.3100? FX Street 4 years According to James Smith, Developed Markets Economist at ING, despite a fairly mixed run of UK's economic data, the Bank remains relaxed about the first quarter slowdown and an August rate rise still looks more likely than not. Key Quotes "The key message from the Bank of England (BoE) today is that they're comfortable things remain on track." "Importantly, the Bank remains just as confident that the economy is rebounding after the weak first quarter as it did back in May, pointing to the rebounding household activity as a key example." "Policymakers also remain upbeat about wage growth - a… Top 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.
