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Deutsche Bank View Ahead of the Sep MPC Meeting

BOE
  • Deutsche Bank think that there is a "good chance that we get one (or maybe two) dissents with Saunders (and possibly Haskel) calling for additional stimulus".
  • Note that it was evident at last week's TSC hearing that "many on the MPC already see risks to the Bank's projections tilted to the downside" and that "Echoes of this…will be important confirmation that further easing is at hand."
  • Deutsche Bank continues to look for GBP60bln more QE in December "though risks are that this may be announced slightly earlier (at the November meeting)."
  • Deutsche Bank reminds us that "Brexit was not mentioned once in the August minutes" so any mention of Brexit risks "will be important to watch for."

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