FXStreet (Guatemala) – Investec dealers noted the BoE today coming across less hawkish than the market had built up for.
Key Quotes:
“Today saw the Bank of England treat us to ‘Super Thursday’ – the simultaneous publication of the MPC’s policy statement, meeting minutes and Inflation Report forecasts.”
“The array of outputs had a moderately dovish feel to them with one MPC member having voted for a rate hike (where many had expected two) whilst the BoE downgraded its inflation forecast in the near term (due to lower oil prices), and the projections more generally were seen to endorse market expectations for very gradual and limited rate hikes. In terms of a date for when rate rises will begin, we (and, we suspect, the MPC) are no more certain, with Governor Carney pointing out in the press conference that the timing of the first move will be ‘data dependent’.”
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