Analysts at TD Securities expect the BoE’s MPC to leave policy on hold on Thursday.
Key Quotes
“The policy backdrop has deteriorated somewhat since their November meeting–in particular with regards to activity data and political uncertainty–so the MPC might come out with a slightly more cautious tone.”
“FX: Our base-case expectation for a slightly more-cautious BoE suggests sterling’s capacity to rally meaningfully into year-end is limited. With Brexit-related catalysts likely to wane until early-January, any marginal drivers that do emerge for the major GBP pairs are likely to rotate to the non-sterling leg.”
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