By eFXdata — May 10 - 09:30 AM
BoE Expected to Raise Rate by 25bp, Dissents Anticipated - BofA 💷⬆️"
Bank of America forecasts a 25bp Bank Rate increase by the Bank of England this week, with a projected 7-2 vote in favour. Dissents are expected from Silvana Tenreyro and Swati Dhingra, advocating no rate changes. The bank foresees no significant modifications to the BoE's guidance, indicating a bias towards further hikes if persistent signs emerge.
GBP Focus on BoE Communication, Challenges by Risk Sentiment - BofA 💬📉"
BofA believes that the GBP's performance will hinge on the BoE's communication regarding market pricing. The bank remains cautious, leaning against market pricing for the BoE and acknowledging challenges posed by risk sentiment in the coming months.
BofA Global Research