Free Trial

MNI BOE Review - Mar 22: Dovish hike; market pricing too much

  • Yesterday’s Bank of England meeting was undeniably dovish in line with our expectations.
  • With every rate rise, policy becomes less accommodative and moves closer to a neutral (rather than accommodative) interest rate. The further down this road we travel, the more emphasis MPC members will place on the growth outlook, in our view. We think that the tipping point for some members is likely closer than the market currently expects.
  • We discuss why there is such a different outlook for the BOE to the Fed, as well as the market reaction to the decision.
  • For the full BOE Review including summaries of 20 sell-side views, view the full report.
Full document:

MNI BoE Review - Mar22.pdf

To read the full story



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.