GBP: Waiting for more balanced BoE speakers – ING
|Hawkish Bank of England (BoE) MPC member Jonathan Haskel said that he will vote for a hold at his final meeting in August. BoE Chief Economist Huw Pill to speak on Wednesday, ING’s FX strategist Francesco Pesole notes.
BoE speakers to shed light on the current Central Bank stance
“Hawkish MPC member Jonathan Haskel was the first to deliver remarks following the Bank of England's quiet period around the election. He unsurprisingly said that he will vote for a hold at his final meeting in August as he highlighted inflation risks stemming from the tight labour market.”
“That may have helped the Pound Sterling (GBP) trade on the strong side for most of the European session yesterday, but it hardly provides an accurate snapshot of the MPC’s consensus. Tomorrow’s speech by Chief Economist Huw Pill, who is a more neutral member, should shed a brighter light on the current BoE stance ahead of key CPI data next week.”
“The calendar is empty in the UK today, and EUR/GBP held up quite well yesterday after the French vote result. We may be seeing some renewed pressure on the pair on the back of a rewidening in EGB spreads, but rate differentials will continue to point up ahead of the August BoE meeting, in our view.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.