According to Greg Gibbs, Analyst at Amplifying Global FX Capital, recent comments fro the BoE Governor and lifting of near-term Brexit uncertainty has increased the probability that the bank will proceed with its second hike at their next meeting on 2 August. Key Quotes “In a speech at the Northern Powerhouse Summit in Newcastle, on Thursday last week, BoE Governor Carney said: “Overall, recent domestic data suggest the economy is evolving largely in line with the May Inflation Report projections, which see demand growing at rates slightly above those of supply and domestic cost pressures building.” “Carney said recent data had given him “greater confidence” that weak first-quarter growth “was largely due to the weather”.” “He said household spending and sentiment had “bounced back strongly”.” “These comments and the lifting of near-term Brexit uncertainty increase the probability that the BoE will proceed with its second hike (after the first in November last year) at their next meeting on 2 August. According to Bloomberg, based on OIS, this is 81% priced-in.” “Carney’s speech also highlighted the dangers of trade tariffs, using Brexit as an example of how they can dampen business confidence and investment. The BBC reported that he cited the fall in fall in the export component of the UK PMI data.” 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 Ex-UK BrexitMin Davis: PM May’s plans would make it difficult for UK to disagree with EU rules FX Street 4 years According to Greg Gibbs, Analyst at Amplifying Global FX Capital, recent comments fro the BoE Governor and lifting of near-term Brexit uncertainty has increased the probability that the bank will proceed with its second hike at their next meeting on 2 August. Key Quotes "In a speech at the Northern Powerhouse Summit in Newcastle, on Thursday last week, BoE Governor Carney said: "Overall, recent domestic data suggest the economy is evolving largely in line with the May Inflation Report projections, which see demand growing at rates slightly above those of supply and domestic cost pressures building." "Carney said recent data… 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.