Analysts at Nomura explained that the BoE have revised growth higher, but that there are increased concerns about protectionism, EM risks and Brexit uncertainty.
"Policy was left unchanged at today’s BoE meeting and the Bank believes that its economic forecasts are “broadly on track”. In its summing up, Brexit uncertainty and EM risks appeared to be broadly offset by stronger economic growth and a more sizable than expected pick-up in wage growth at home. We continue to expect the next move up in rates (25bp) in February, and if the data should continue to surprise on the upside some of the more hawkish members of the Committee could even begin discussing another tightening in policy at the November Inflation Report meeting. Whether they vote for such a move so soon is a different matter, particularly with changes in personnel on the MPC recently shifting towards a less hawkish balance."
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 securities. 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 Forex 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.