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MNI BOE Review: December 2023: Surprise saved for the APF Schedule

  • The BOE meeting was almost exactly in line with the expectations made ahead of last week's data. The vote was 6-3 as we and the majority of the sellside had expected.
  • It still looks as though to get the degree of easing and persistence of trends that the MPC are looking for in the data we would have to wait until at least May.
  • However, there was somewhat of a surprise the day after the meeting with the announcement that the Bank of England would tilt its APF sales slightly away from longs. We also look ahead to future APF announcements.
For the full PDF including summaries of 25 sellside views click here:

MNI BoE Review - Dec23.pdf

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