OctaFX | OctaFX Forex Broker
Open trading account
Back

BoE Preview: Steady policy, no rate hike until Aug 2016 - Rabobank

FXStreet (Delhi) – Research Team at Rabobank, note that the Bank of England will announce its monetary policy decision today and they expect the bank to keep the policy steady and do not see the BoE lifting rates until August 2016.

Key Quotes

“As we noted above, August industrial production data surprised on the upside with a 1.0% m-o-m leap. However, over the past month there have been several signs that the UK economy lost momentum in Q3. Additionally, CPI inflation dropped back to flat y-o-y. Layered on top are concerns about slower growth in China and many emerging markets.”

“Against this backdrop the money market has pushed out its expectations of the first BoE rate hike to late 2016/early 2017. Today’s policy meeting is likely to bring an 8:1 vote in favour of steady policy, with McCafferty set to remain the sole hawk again this month.”

USD/JPY drops to test 119.60, daily lows

The offered tone in the greenback is now picking up pace, dragging USD/JPY to test the area of session lows near 119.60...
Read more Previous

European stocks cautious ahead of global central banks’ events

Stocks on the European bourses turned into the positive territory, after opening lower on Thursday. However, the gains remain in check as traders remain cautious with a series of minutes from the BOE, ECB and Fed lined for release today.
Read more Next
Start livechat