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Dovish turn of BoE’s MPC – TDS

FXStreet (Delhi) – Research Team at TDS, suggest that the BoE’s Monetary Policy Summary and minutes painted a less urgent picture to raise rates, with a lower forecast for inflation and a possible shift in the perceived timing between policy rate changes and inflation.

Key Quotes

“No surprises here: votes are 8-1 to keep Bank Rate on hold and 9-0 to maintain the current level of QE.”

“We remain comfortable with our forecast of a May 2016 Bank Rate hike, but clearly the risks are now biased towards the second half of the year rather than earlier.”

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