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Aug 04 - 10:55 AM

GBP: Sequencing Concerns To The Fore - Credit Suisse

By eFXdata  —  Aug 04 - 09:30 AM

Credit Suisse discusses its expectations for tomorrow's BoE policy meeting.

"Tomorrow’s Bank of England MPC meeting is notable in that it represents an opportunity to see a new set of economic projections," CS notes. 

"At most, markets expect 1 or possibly 2 of the 8 voters to call for an early end to the current QE program, cutting the gilt purchase target by GBP 50bio to GBP 825bio. With delta variant risk a “live” problem, and given ongoing fears that hundreds of thousands of jobs could be at risk when job furlough scheme ends in September, the MPC has every excuse it needs to sit on its hands and deliver a still-cautious, fundamentally dovish overall message," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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