BoE to keep rates on hold until 2019: Reuters Poll

Haresh Menghani FXStreet

The latest Reuters poll of 67 economists was published on Monday and showed that the Bank of England (BoE) would leave its monetary policy unchanged at its upcoming meeting on Feb. 2.

Key Findings of the survey:

•   BoE is likely to revise up its 2017 growth predictions again.
•   BoE would leave its record-low interest rates and other stimulus measures unchanged at least until 2019.
•   20% chance of rates increasing this year and only 15 % chances of falling further.
•   BoE might raise its forecast for inflation over the next two years.

Meanwhile, the GBP/USD pair maintained its strong bid tone but has failed to buidl on to its move above 50-day SMA hurdle as investors await for tomorrow's UK Supreme Court ruling on whether Parliament approval is required to trigger Article 50.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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