Both banks out with a client note 1 July 2016
- both see a cut of 25bps in July
- JPM see another 25bps in Aug and that QE could be restarted if necessary
Carney suggested yesterday he would wait til seeing the August inflation report but these banks see an need for earlier cut anyhow.
GBPUSD trawling around 1.3300 after the UK PMI data-led bounce. EURGBP finding dip-demand still.
