BOE: Expect a muted reaction to the upcoming meeting - TD Securities
|The BoE's hiking bias is likely to be diluted even further at the November meeting, with more of a balanced message instead and a rewrite of the rate guidance in the final paragraph of the Monetary Policy Summary, according to analysts at TD Securities.
Key quotes
"When the Bank of England meets again on Thursday, the big question of the day - Brexit - remains unsettled, with a deal on the table that parliament was unable to pass, and another deadline extension from the EU."
"At the same time, growth momentum has slowed further and some of the previously solid areas of the economy, like the labour market, have begun to falter."
"Once again, we think the FX market is only likely to give the November MPC meeting a passing glance. With the campaign ahead of the 12 December general election now gearing up rapidly, investors remain intensely focused on UK political risks. Ultimately, the outcome there - and what that implies for the future of Brexit - will continue to be the overwhelmingly dominant driver of sterling for the foreseeable future."
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