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BoE Preview: Hold for now - TDS

Analysts at TD Securities expect the BoE’s MPC to leave policy on hold on Thursday.

Key Quotes

“The policy backdrop has deteriorated somewhat since their November meeting--in particular with regards to activity data and political uncertainty--so the MPC might come out with a slightly more cautious tone.”

FX: Our base-case expectation for a slightly more-cautious BoE suggests sterling's capacity to rally meaningfully into year-end is limited. With Brexit-related catalysts likely to wane until early-January, any marginal drivers that do emerge for the major GBP pairs are likely to rotate to the non-sterling leg.”

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