Deutsche Bank view following the MPC meeting

Expect GBP60bln QE in Nov (not Dec)

• Deutsche Bank continues to look for GBP60bln more QE this year but now expects an announcement in November rather than December. They argue that "tighter social restrictions and rising Brexit tensions over the coming weeks will give the MPC enough ammunition to pull the trigger on additional stimulus earlier than we previously expected."
• On NIRP: "a lower Bank Rate will only be likely after the BoE/PRA conclude their review, and financial institutions implement any necessary systems changes to handle negative rates. At the earliest, we think negative rates would only really be viable at the start of 2021."