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MNI BOE WATCH: MPC On Course For Steady Rate, Smooth QT Policy

The BOE looks keen to avoid any policy shocks in September.

MNI (LONDON) - The Bank of England looks set to keep Bank Rate on hold at 5.0% and to announce either a modest increase in or no change to the pace of its reduction of gilt holdings built up through quantitative easing at its meeting on Thursday.

After cutting Bank Rate in August for the first time this cycle, in what it termed a "finely balanced" decision with a five-to-four vote in favour, and with no press conference or fresh forecasts, analysts expect the Monetary Policy Committee to sit tight this month ahead of a widely-expected cut in November.

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MNI (LONDON) - The Bank of England looks set to keep Bank Rate on hold at 5.0% and to announce either a modest increase in or no change to the pace of its reduction of gilt holdings built up through quantitative easing at its meeting on Thursday.

After cutting Bank Rate in August for the first time this cycle, in what it termed a "finely balanced" decision with a five-to-four vote in favour, and with no press conference or fresh forecasts, analysts expect the Monetary Policy Committee to sit tight this month ahead of a widely-expected cut in November.

Keep reading...Show less