7 Jul 2014
BoE in the limelight this week - Investec
FXStreet (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec, underlines the relevance of the MPC meeting ahead in the week.
Key Quotes
"Very little out on the data front today so it’s likely the market will continue to be driven by the result of Thursday’s impressive payroll figures. However, the main event of the week will be when the Monetary Policy Committee makes its July announcement at midday on Thursday."
"This will be the first MPC meeting since Mark Carney’s Mansion House speech, when the BoE Governor warned that interest rates could rise sooner than markets were expecting. However the motivation behind the statement is likely to have been to warn markets of a general trend, not an imminent event".
"Accordingly policy looks set to be held steady again for now, with the Bank rate on hold at 0.5% and the stock of asset purchases at £375bn."
Key Quotes
"Very little out on the data front today so it’s likely the market will continue to be driven by the result of Thursday’s impressive payroll figures. However, the main event of the week will be when the Monetary Policy Committee makes its July announcement at midday on Thursday."
"This will be the first MPC meeting since Mark Carney’s Mansion House speech, when the BoE Governor warned that interest rates could rise sooner than markets were expecting. However the motivation behind the statement is likely to have been to warn markets of a general trend, not an imminent event".
"Accordingly policy looks set to be held steady again for now, with the Bank rate on hold at 0.5% and the stock of asset purchases at £375bn."