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Oct 12 - 06:55 PM

GBP: A Hawkish BoE Not Necessarily Supportive For GBP Over Time - Citi

By eFXdata  —  Oct 12 - 03:00 PM

Citi discusses GBP outlook in light of the BoE hawkish policy trajectory.

"UK markets are moving to reassess the likelihood of rate hikes, in light of recent BoE comments," Citi notes. 

"We argue that a hawkish BoE is not necessarily supportive for GBP over time, given growth headwinds and the fact that an earlier hike does not guarantee a more aggressive rate hike cycle. Concurrently , our rates strategists like fading the sell-off in the very front end," Citi adds.

Source:
Citi Research/Market Commentary

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