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No change expected from BoE at its November MPC meeting - RBS

FXStreet (Łódź) - Ross Walker, Senior UK Economist suggests that the upcoming BoE monetary policy meeting will be uneventful, with no changes expected and no statement to be released.

Key quotes

"It is not so long ago that November’s MPC meeting was being eyed as the most likely point for the first Bank Rate rise (a 25bp hike was fully priced as recently as mid-June, while the market was evenly split between November 2014 and February 2015 in mid-August)."

"Evidence of weaker global demand and more broad-based (if still mild) domestic disinflationary pressures mean that the prospects of any policy change or statement on November 6thare fairly remote."

"We expect the BoE Inflation Reporton 12thNovember to broadly validate current market pricing for the first Bank Rate hike to come around August 2015."

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