Wednesday, May 4, 2011

Cable short would be derailed by a rate hike, crowd says no way no hike

Summary Outlook - Bank of England Rate Decision

On Thursday, May 5 at 0700EDT/1100GMT, the BOE is unanimously expected to hold rates steady at 0.5% and to make no change to the GBP 200 bio Asset Purchase Program, according to Bloomberg surveys of market economists. Given weakness in recent UK data, we also expect the BOE to stay on hold. Traditionally, when there is no change to Bank policy, the BOE does not issue a statement, so we do not expect any significant news to flow from the event.

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Insightful and Useful Comment!