Researchers at UOB Group have assessed the prospects of further monetary tightening by the Bank of England in the next months.
“Overall, the BoE is more positive on the outlook and clearly intending to act against what it sees as growing inflationary pressure. Whilst the BoE as signaled to markets that a May rate hike is under active consideration, this is far from guaranteed though”.
“Brexit could still throw a major curveball into the mix. After all, there has been limited progress so far on a transition period, although most parties appreciate a swift deal by the end of March 2018 is needed”.
“Whilst markets are now heavily pointed to a May hike, August still looks like the most likely time to us”.
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