BoE: Another Round of GBP Weakness? - SocGen
Kit Juckes, Research Analyst at Societe Generale, suggests that the
day’s big event is the UK MPC meeting and Bank of England Inflation
report.
Key Quotes
“No policy rate change is expected, of course, but the tone of the
discussion, and of the Inflation Report, and of the press conference at
12:30 BST, is likely to be downbeat. The message from Mr Carney is
probably that the MPC intends to embark on a limited and gradual
tightening of policy, but that will keep speculation that the next move
is a cut alive.
We remain bearish of GBP expressed through GBP/USD and GBP/NOK shorts.”
