Bank of England officials will meet Wednesday to deliberate on the economic outlook ahead of their interest rate announcement on November 5. But some policymakers are silent on giving their economic outlook.
Economists noted Deputy Governors Minouche Shafik and Jon Cunliffe have refused to outline their outlook for growth, inflation, and rates in public speeches since joining the central bank over a year ago. Hence, investors are left with an information gap.
Some MPC members have not a clear steer, making life tricky and “judging the outlook for policy difficult,” said Rob Wood, Economist at Bank of America Merrill Lynch.
Investors anticipate a rate hike after December 2016, while economists expect the first full-quarter point increase in the second quarter next year.
The material has been provided by InstaForex Company – www.instaforex.com