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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.
- If yesterday's Bank of England meeting had followed on from the September meeting with no intervening communications, it would have been judged to have been a hawkish hold. The problem was the market's reaction to Governor Bailey's persistent warnings that rate hikes would be required soon, while Bailey provided no pushback against market pricing in any of his public comments between the meetings.
- We thought the Bank should wait until December to raise rates (but we thought given the inter-meeting communication that we would have seen a hike yesterday). December still remains very much in play.
- We think market participants will pay less attention to Bailey's communications going forward, but will continue to listen to the individual views of other MPC members.
- We have also read through and summarised over 20 analyst reviews and note that 12/19 analysts expect a hike in December with the remainder expecting the first hike in February.
Full document:
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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