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BoE likely a non-event - RBS

FXStreet (Bali) - According to RBS, BoE monetary policy meeting today is likely going to be a non-event.

Key Quotes

"The Bank of England is scheduled to hold its November decision. Not so long ago, this meeting looked set to be an inflection point in UK monetary policy, possibly marking the start of the BoE's normalisation of monetary policy or at least offering the potential for some MPC members to swap sides in favour of a potentially tighter monetary policy stance."

"But such views have been overtaken as CPI inflation has undershot expectations, housing activity has come off the boil and as the manufacturing sector appears to be feeling the downdraft from softening Euro area demand."

"Unchanged policy, and with it the likely lack of any statement, could leave this meeting as something of a non-event. However, next week’s Inflation Report does have the potential to be market moving."

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