According to analysts at TD Securities, with economic data mixed and Brexit/politics muddling the outlook, the BoE’s MPC is likely to vote unanimously to leave policy on hold.
“Increasingly hawkish comments set against a more worrisome global backdrop set the stage for surprise this week.”
“FX: Our base case suggests a muted reaction in sterling overall. Directional risks in GBP remain more a function of the UK's political backdrop and global risk environment.”
“Tonight’s FOMC keeps market risks fluid ahead of the meeting. We will update levels and views as necessary.”
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