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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Please see below the September BOE preview including summaries of 21 sell side analysts.
- The overwhelming majority of analyst BOE previews we have read look for the MPC to extend QE by GBP100bln. Saturday's announcement from Prime Minister Boris Johnson that England would begin a second month-long lockdown beginning on Thursday has been the final straw for some analysts to fall in line with consensus.
- However, the MNI Markets team believes that the decision over the size of the QE extension is far less clear cut than the previews that we have been reading would suggest and a very compelling argument can be made for a smaller GBP75bln extension to QE. We look at the arithmetic of how a GBP75bln package would play out.
- Overall, we think that the decision over whether to increase QE by GBP75bln or GBP100bln is poised on a knife edge. We think that a GBP75bln extension would be more appropriate but concede that the MPC might not want to disappoint and almost unanimous market expectation that QE will be extended by GBP100bln.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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