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BoE to remain on hold till the end of the year - Adam Narczewski

FXStreet (Łódź) - Adam Narczewski, CFA, Financial Analyst at X-Trade Brokers, XTB doesn't expect any surprises from the BoE at today's monetary policy meeting and suggests that action on rates won't be taken before the first quarter of 2015.

Key quotes

"The published statement is usually very short so I do not expect much from it. Much more we could learn on October 22nd, when the minutes will be published."

"We will see if others joined the two members of the BoE opting for interest rate hikes. This could help us understand how quickly interest rates could be hiked and what kind of macro data other BoE members need in order to become more hawkish."

"We have to note that the overall macro situation of the British economy differs from that of the Eurozone. GDP is increasing, PMI indices are above 50 points and inflation has been higher."

"Nevertheless, this growth has stabilized in the last couple of weeks. That is why the BoE members' discussion regarding interest rates should be interesting."

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