May 20, 2022 07:04 GMT
- We have already seen UK retail sales released (slightly better than consensus but the details still look bad), and GfK consumer confidence data which fell further and slightly disappointed consensus. Note our policy team conducted an exclusive interview with GfK's strategy director which is available here.
- The highlight of the morning session could be a speech by BOE Chief Economist Huw Pill will speak during an agency visit to ACCA Cymru Wales (due to begin at 8:30BST / 9:30CET). He is due to speak on his personal views on the economic outlook as well as “some initial thoughts on how policymakers might approach the unwinding of Quantitative Easing.” This may turn out to be the most notable event of the week in terms of BOE speakers. There has still been very little clarity in terms of how the BOE will engage in QT, so any extra clarity on this issue, even if it it’s Pill’s personal view rather than an official MPC communique will be interesting.
- The rest of the day's calendar looks rather light with ECB's Centeno and de Cos both due to speak again (but unlikely to say much new). We also have Eurozone consumer confidence data at 15:00BST / 16:00CET.