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A reminder that we have the BOE decision........>

BOE
BOE: A reminder that we have the BOE decision coming up in little under half an
hour at 07:00BST.
- The main decision seems to be whether to increase QE or not with most analysts
expecting no change at today's meeting (see our BOE Preview including a round up
of sell side views.
- Note that we discussed that the probability of a QE expansion had increased
following the announcement of record gilt issuance for the May-July period with
the BOE likely to have exhausted its GBP200bln prior expansion in QE before the
heavy issuance schedule could deescalate. We wrote about the rationale behind
this in an MNI Market Analysis publication on 23 April.

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