Forex Flash: Bank of England expected to stay on hold - UBS

FXstreet.com (Córdoba) - Coincidently with consensus, the UBS team is looking for no change of policy rate, as well as the asset purchase program at Thursday's Bank of England meeting.

"Still, after the recent action of the ECB and Australia, even non-action of the BoE could lead to a small Sterling rally", UBS comments. "More important, in our view, will be next week's Inflation Report, in which the bank outlines its current views on the economy and in two weeks the minutes of the policy meeting to see if the voting pattern changed. We stay overweight GBP".