BoE: prodding the embers of BoE tightening talk again - Scotiabank

Ross J Burland FXStreet

Analysts at Scotiabank noted that BoE economist Haldane has prodded the embers of BoE tightening talk again today by suggesting that he is among a majority of policymakers who think the UK economy is “nearing the point” where a reduction in stimulus is appropriate.

Key Quotes:

"We look for the BoE to raise rates 25bps in Nov. Sterling firmed in response to the comments and got some additional support from positive signs from UK/EU Brexit talks."

"Cable failed to pick up any real support from the basing signals on the intraday chart but positive price signals on the short-term charts (bullish outside range reversal on the 6-hour chart) again today do suggest that bargain hunters remain active in scooping up “cheap” GBPs at the moment."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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