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MNI BOE Sell-Side View Change Update

  • Of the 21 sell side reviews to this week’s data, 15 include a change of BOE view. This is an unprecedented shift in terms of view changes (outside of the Truss era and post-MPC meeting forecast updates).
  • 5 analysts now look for 2x25bp hikes (May and June) with JP Morgan and Rabobank being joined by Deutsche Bank, Nomura and TD Securities.
  • The remaining analysts all now look for a 25bp May hike to a terminal rate of 4.50% (albeit a number highlighting risks of a June hike to varying degrees).
  • For more details on analyst reviews, including what they saw as the key takeaways in this week’s data see the full PDF:

MNI BoE Views Update - Apr23.pdf

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