The Bank of England convenes for one of its more important meetings. The “Super Thursday” event consists of the QIR. However, the shadow of the elections could keep Mark Carney and his colleagues a bit subdued. The BOE is likely happy with the recent rise of the pound. The gains will allow inflation to moderate and ease demands for a rate hike. Also, the weaker growth in Q1 shows there is no urge for raising rates. But will they take a victory lap on their gloomy projections? Not so fast. Watch out for the voting patterns and the tone. GBP is close to 1.30. Make or break?
Video preview for the BOE decision on May 11th 2017:
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