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BoE's August Inflation Report resolutely dovish - TD Securities

FXStreet (Łódź) - Richard Kelly and Jacqui Douglas, TD Securities economists believe that the BoE August Inflation report today conveys MPC's reluctance to hike rates in the nearest future.

Key quotes


"The August Inflation Report was resolutely dovish when it came to handicapping odds of a 2014 hike, but did suggest more conviction on broader recovery and scope to start tightening next year."

"BoE suggests spare capacity higher than expected and lowered GDP and inflation forecasts."

"We remain comfortable with our forecast for the first hike to come in February 2015, if anything the odds shift slightly later, rather than sooner, and the tone today suggests we may have had no dissent to hike in August."

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