Bank of England (BoE) left its policy rate and bond programme unchanged, but market perceived the decision as hawkish as chief economist Haldane joined the hawks by voting for a hike, according to Andreas Wallström, Chief analyst at Nordea Markets. Key Quotes “The MPC was split in its decision with Haldane, McCafferty and Saunders advocated to increase the bank rate by 25 bps. Chief economist Andrew Haldane is new in the hawkish camp.” “The decision was seen as hawkish by markets with stronger sterling and higher rates. Market pricing implies close to 50% chance of a 25bps rate hike in August and a full hike is priced in at the end of 2018.” “There were no new inflation report released but the minutes stated that “inflation is expected to pick up by slightly more than projected in May in the near term, reflecting higher dollar oil prices and a weaker sterling exchange rate”.” “The minutes reiterated that “any future increases in Bank Rate were likely to be at a gradual pace and to a limited extent.” “Today ´s decision strengthened the case for a rate hike in August. For now, however, we stick to our forecast that the Bank of England leaves its policy rate unchanged throughout 2018 and 2019.” 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 USD/JPY keeps the consolidation near term – UOB FX Street 3 years Bank of England (BoE) left its policy rate and bond programme unchanged, but market perceived the decision as hawkish as chief economist Haldane joined the hawks by voting for a hike, according to Andreas Wallström, Chief analyst at Nordea Markets. Key Quotes "The MPC was split in its decision with Haldane, McCafferty and Saunders advocated to increase the bank rate by 25 bps. Chief economist Andrew Haldane is new in the hawkish camp." "The decision was seen as hawkish by markets with stronger sterling and higher rates. Market pricing implies close to 50% chance of a 25bps rate hike in… 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.
