BoE preview: forward guidance and new forecasts in focus
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The Bank of England is expected hold the Bank Rate unchanged at 3.75% with a 7-2 vote split with Pill and Green supporting a rate hike. There is a good chance we see a 6-3 vote split with Mann joining Pill and Greene. That wouldn't be a total surprise though. In fact, based on he
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4 itemsBOE leaves bank rate unchanged at 3.75% in 6-3 vote
BOE preview: Bank rate set to stay at 3.75% as vote split takes centre stage
BoE preview: will the central bank make another step towards a rate hike?
The desk anticipates that the Bank of England (BoE) will maintain the Bank Rate at 3.75% during today's meeting, with a possibility of one or two hawkish dissenters. Per the full note [source], while recent economic data has not urgently called for rate hikes, the persistent inflationary pressures, particularly in services, suggest that the BoE may signal a future rate increase, potentially as early as June. The market currently prices in a 63% probability of a June hike, indicating room for GBP appreciation should the BoE adopt a hawkish tone. This outlook contrasts with the FTSE 100, which may face downward pressure in such a scenario.
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