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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.
Markets
Executive Summary:
- NBH almost certain to deliver another 100bps effective rate cut, in-line with previously offered guidance
- This keeps the policy rate on track to converge to the 13% base rate by the end of September
- NBH may use this juncture to provide updated forward guidance, however broad uncertainty could prompt greater degree of caution instead
Full preview including summary of sell-side views here:
In July, there were few surprises in the rate decision itself, but markets took note of Virag’s insistence that policy will be conducted in a predictable manner going forward, leaving little room for any tweaks to the current policy approach. As such, the near-term policy path looks pre-ordained, and smooth exit from the emergency policy setting could precede base rate cuts before year-end, a welcome prospect for the government who see inflation slowing to single digits as soon as October.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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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