BoE expected to hold rates, eyes on minutes later in the month – RBS

FXStreet (Barcelona) – Brian Daingerfield, FX Trading Strategist at RBS, sees the Bank of England keeping rates on hold in its policy decision today, and believes that the Minutes to be released later in the month will be in focus.

Key Quotes

“The Bank of England concludes its July MPC meeting we expect no changes in the bank rate. Unchanged policy is often not accompanied by a post-decision communication, meaning the focus for MPC policy will likely quickly shift to the minutes of this meeting released July 22nd.”

“Our UK economists expect that the vote will still be unanimous in favour of no change, particularly with the emergence of stress both in Greece and China. The August meeting, which coincides with a new Inflation Report and forecasts, may be the meeting where one or more hawks dissents in favour of rate hikes.”

Brian Daingerfield, FX Trading Strategist at RBS, sees the Bank of England keeping rates on hold in its policy decision today, and believes that the Minutes to be released later in the month will be in focus.

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