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3 Jun 2014
BoE’s MPC meeting would be a non-event – Rabobank
FXStreet (Edinburgh) - Senior Currency Strategist at Rabobank Jane Foley expects the markets to practically bypass the BoE gathering this week.
Key Quotes
“The BoE’s policy decision this week is likely to pass without event”.
“That said, the MPC’s Weale has begun to show his hawkish colours. It is natural that as the economy recovers the better news will start to draw out the hawks.
“While we do not expect the consensus to vote for a rate hike until Q2 2015, we suspect that one or two of the nine man committee may be voting in favour of a rate hike by the autumn.
“We continue to favour selling EUR/GBP on rallies with a target of 0.80”.
Key Quotes
“The BoE’s policy decision this week is likely to pass without event”.
“That said, the MPC’s Weale has begun to show his hawkish colours. It is natural that as the economy recovers the better news will start to draw out the hawks.
“While we do not expect the consensus to vote for a rate hike until Q2 2015, we suspect that one or two of the nine man committee may be voting in favour of a rate hike by the autumn.
“We continue to favour selling EUR/GBP on rallies with a target of 0.80”.