Analysts at Westpac offer their expectations on Super Thursday’s Bank of England’s triple showdown – the monetary policy meeting, its minutes and the quarterly inflation report (QIR).
Key Quotes:
“In March, the BoE left the Bank Rate unchanged and maintained its very mild tightening bias.
That tightening bias was contingent on a smooth post-Brexit transition.
Since the BoE’s last update, economic activity has been a little firmer than expected. However, Brexit-related uncertainty – which has been a significant drag on investment spending and economic growth – has continued unabated.
At the same time, inflation remains well contained.
Against this backdrop, there’s no chance of a change in the Bank Rate this month, and the BoE will once again emphasise the conditionality of its forecasts.”
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