Carney Expected to Talk Down Rate Hike Prospects

The Bank of England is likely to revise higher its inflation outlook for the year, though Governor Mark Carney is bound to talk down expectations for a rate increase anytime soon, analysts say ahead of this week’s monetary-policy review.

What is likely to capture the market’s imagination is whether more than one person among those voting calls for a rate increase, they say. The BOE is scheduled to announce its policy decision at 12 p.m. in London on Thursday, followed by a press conference by Governor Mark Carney 30 minutes later. The central bank will leave its benchmark rate unchanged at 0.25 percent, according to all 55 economists in a Bloomberg survey.

The BOE will also release its Quarterly Inflation Report, where it will raise its 2017 inflation forecasts and lower its economists growth projections, according to analysts.

Bloomberg

Oil Inventories Eyed After API Reports Large Drop

EUR/USD – Euro Steady as Markets Eye Draghi Speech

Sabre Rattling topples USDJPY

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.