BoE: to tighten rates 25bps at the May meeting - Scotiabank

Analysts at Scotiabank explained that the BoE MPC member McCafferty said that policymakers should not delay its next rate increase as inflation could run hotter than forecast.

Key Quotes:

"We look for the BoE to tighten rates 25bps at the May 10th policy meeting, a view increasingly endorsed by the rates market, which is now pricing in 87% risk of a ¼ point rate hike next month."

"The increasing conviction around BoE tightening plus recent progress on Brexit suggests modest upside risks for the GBP at least in the near-term. There were no UK data reports today."

Apr 10, 2018

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