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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.
Executive Summary:
- A sharp moderation in headline CPI should aide a ‘single hike’ of 25bps
- NOK is firming faster than expectations, relieving upside pressure on the rate path ahead
- No fresh path projections this month, leaving September as the next communications opportunity
Full preview including summary of sell-side views:
A much smaller error term in the Bank’s CPI projection will allow for a 25bps hike to 4.00% this month, turning focus to the September forecast round for the next steer on policy. Such a move would be infitting with the bank’s communication at the June MPR, in which they stated that additional rate hikes would be required by the end of the summer. Subsequently, a further 25bps rise to 4.25% is looking likely in September.
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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