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Sep 16 - 06:55 PM

GBP: BoE Unlikely To Give Sterling Strong Directional Cues On Thurs But Overall Tone Likely Dovish - TD

By eFXdata  —  Sep 16 - 04:45 PM

TD Research discusses its expectations for tomorrow's BoE policy meeting.

"With the BoE expected to keep all policy levers on hold, we do not think the September MPC meeting is likely to give sterling much in the way of strong directional cues. All else equal, we expect currency investors to receive mixed set of messages from the BoE," TD notes. 

"The overall tone may take another step in a dovish direction. At the same time, however, we do not expect the BoE to validate hopes for any further near-term easing on rate cuts or asset purchases. If anything, we see them centering market expectations around our base case scenario of an additional £50 bn of QE alongside the November MPR," TD adds. 

TD Bank Research/Market Commentary


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