MNI: Canada Apr-Sept Budget Deficit Widens On Spending

CANADA'S TRUDEAU: I CONTINUE TO HAVE GOOD TALKS WITH TRUMP

MNI BRIEF: Little Macro Difference On Rate Oprions- de Guindos

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CANADA Q3 GDP ANNUALIZED +1.0% AS EXPECTED ON GOVT, CONSUMERS

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

TD Securities: Hike to 1% and gilt sales to begin by May (risk of delay to Aug)

BOE
  • “We now expect hikes at the next two MPC meetings (though there's a risk the second hike slips from May to Aug), followed by a relatively long pause as QT kicks in and the MPC assesses its impact on the economy.”
  • TD Securities’ previous forecast saw hikes in May 2022 and August 2022 (following February).
  • TDS notes that “This is the lowest three-year projected inflation rate since 2011, and alongside rising slack, sends a strong signal that the MPC thinks that markets are pricing in too many hikes over the forecast horizon.”
  • “The emphasis on QT and an unloading of corporate bond holdings from end-2023 suggests much of the further tightening will come via balance sheet policy, somewhat at odds with the MPC's comments last year that Bank Rate remains the primary tool for monetary policy.”
  • “We expect the BoE will provide more guidance on its APF portfolio at the March meeting. Markets will be focusing on their entire thought process and willingness to set the stage for asset sales.”
HomepageBulletMarketsFixed 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.