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Jun 15 - 12:55 PM

GBP: We Expect 6-3 Vote To 25bps Hike, More Hawkish Guidance - BofA

By eFXdata  —  Jun 15 - 11:30 AM

Bank of America Global Research discusses its expectations for tomorrow's BoE policy meeting.

"We expect the BoE to hike Bank Rate 25bp on Thursday, six rate setters voting for a 25bp hike and three for 50bp. We see risks skewed to a 5-4 vote and look for more hawkish guidance. Strong wage growth in March suggests increased risk of second-round effects while government fiscal stimulus will boost inflation pressures,"BofA notes.

"Stepping back from the 25bp or 50bp question, in our view, the data suggest the 'narrow path' between fighting inflation and avoiding recession is closing. We see increasing risks that the BoE has to choose between the two and will prioritize growth," BofA adds. 

BofA Global Research


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