MNI: LABOUR SET TO WIN UK ELECTION IN LANDSLIDE -EXIT POLL

MNI BRIEF: Dissent To June ECB Cut Highlights Inflation Risks - Accounts

MNI INTERVIEW2: New UK Govt's Growth Boost Little Help For OBR Projections

MNI China Daily Summary: Thursday, July 4

MNI BRIEF: China Has Four Months To Negotiate EU EV Agreement

MNI: PBOC Net Drains CNY98 Bln Via OMO Thurs; Rates Unchanged

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

Factory Orders Decline as Non-EU Orders Dip

DMP survey increases probability of August cut

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BOE Review: September 2023: Are we there yet? Probably...

BOE
  • The Bank of England left Bank Rate on hold, forward guidance unchanged and set a GBP100bln target for APF reduction in the 12-months beginning October 2023.
  • Following the downside surprise to August inflation, the MNI Markets team had seen it as 50/50 as to whether there was a hike but had noted that there was an increased probability of dissent at this meeting.
  • The MNI Markets team’s base case agrees with the sell-side consensus that we have now seen the final hike. We also think that the emphasis on private sector AWE will be a little reduced.
  • The MNI Markets team think the language change in the APF Market Notice increases the probability that either the weighting of the buckets or the buckets themselves may be tweaked.
  • We have read through over 20 sell side reviews. All have a base case that the terminal rate has been reached and 86% expect the first cut in either Q2-24 or Q3-24.
For the full PDF click here.
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

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.