This is via the folks at eFX.
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- Bank of America Global Research discusses its expectations for BoE policy decision.
- "We expect a 25bp Bank of England rate hike this week, with dovish guidance. But it's a very close call.We would not be surprised to see the BoE keep rates on hold. Either way, we expect no further hikes after this week," BofA notes.
- Our recent analysis has shown that GBP has been agnostic to UK rate moves in recent years. We do not think this is about to change any time soon . For now, position cleansing, a standard market response to a crisis will continue to dominate sentiment. EUR/GBP has been a favored long this year and our momentum indicators have been flashing overbought levels," BofA adds.
