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TD Securities analysts suggest that in the UK, the BoE announces its latest policy decision, followed by a press conference with Governor Carney and will be a key event for today’s UK markets.

Key Quotes

“We expect that with Brexit potentially shifted to the sidelines for some time, the MPC will re-focus on economic data. On this front, we expect an upgrade to 2019 GDP growth and a likely dissent from one member for a hike, leaving a somewhat hawkish tone to the meeting.”

“Earlier in the day, the April Construction PMI is released and we look for no change in the index at 49.7 (mkt: 50.1).”

“Finally, local elections in England and Northern Ireland see around 8,500 politicians running for seats. Significant losses by the Conservatives are likely to lead to renewed calls for Theresa May to resign sooner rather than later. Results will start flowing in late Thursday and through Friday.”