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GBP: BoE Heading For A Hike In May & Another One In Nov – Danske

The Bank of England left the interest rate unchanged but two members voted for a hike. What’s next for the BOE and the pound?

Here is their view, courtesy of eFXnews:

Danske  Research  discusses its reaction to today’s BoE rate decision and minutes.

We still believe the BoE is heading for a May hike and we also believe another hike in November is likely, which is more than the one BoE hike forecast by consensus. As we argued back in February after the last meeting, the BoE seems to have launched a regular hiking cycle and this meeting has not changed our view Markets have priced in approximately 42bp hikes this year, so we are more hawkish than both other houses and market pricing.

Although the  Brexit transition deal  is, other things being equal, positive news, it is  in our view not a game-changer for EUR/GBP in the short-run and we forecast 0.87 in 3M,” Danske argues.

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Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.