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Analysts at Danske Bank suggest that the key event today is the ECB meeting, in addition to the BoE meeting.

Key Quotes

“Albeit we do not expect big communication changes, the ECB will present new staff projections. We expect a marginal downward revision of the 2019 and 2020 projections, but no new policy signals as the central bank has been content with the current economic path and the market reaction to the recent increased forward guidance in June.”

“In addition, we have the Bank of England (BoE) meeting. This is unlikely to be a major market mover, as it is one of the interim meetings without updated projections and no press conference. After the August hike, we believe the BoE is on hold until next year. We do not think it is necessary for the BoE to send any new signals now.”