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Previewing the Bank of England’s policy meeting next week, “we’re in line with consensus in looking for the Bank of England to announce £100bn of further QE at the June meeting, with the risks lying toward even more QE,” said TD Securities analysts.

Key quotes

“We do not expect any further details, nor even specific mention, of other policy options like negative rates or YCC.”

“Equity market gyrations make the near-term GBP outlook uncertain as it remains highly sensitive to risk appetite. Sterling may benefit on a larger-than-expected package, but we expect disappointment may be punished. Within this, sentiment may define the scale of any such moves.”

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