Danske Bank analysts point out that the Bank of England meets today and Carney & Co seem to be in no hurry to raise rates in the current environment.
Key Quotes
“Our case for a rate hike in November 2019 is under pressure given the other dovish central banks.”
“In our core markets, all focus is on Norges Bank (NB), which we expect to raise the policy rate by 25bp to 1.00%, as the economy is in very good shape. We expect NB to signal another rate hike this year, with more to come next year, which is more aggressive than current market pricing. See next page for full preview and market implications.”
“Today, the EU leaders meet to discuss, among other things, whether to grant the UK an extension of Article 50. A final verdict is not expected today. The EU summit starts at 14:00 CET and the Brexit discussion at 15:30. A press conference will be held afterwards.”
“The Swiss National Bank (SNB) is widely expected to keep its policy rate unchanged at -0.75% at today’s quarterly meeting.”
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