28 Nov 2014
BoE: No early Christmas surprises – RBS
FXStreet (Guatemala) - Analysts at RBS explained that the month following a quarterly Inflation Report rarely produces any monetary policy surprises.
Key Quotes:
“Although the November MPC Minutes were less cohesively dovish than expected (among the majority-7 'there was a material spread of views on the balance of risks to the outlook') there was little to suggest that any additional hawkish voting dissent is imminent, let alone an actual rise in Bank Rate”.
“Recent comments from the two 'hawks', Martin Weale and Ian McCafferty, suggest they remain comfortable with their support for pre-emptive policy tightening, so we expect the MPC Minutes on 17th December to show a repeat 7-2 vote”.
Key Quotes:
“Although the November MPC Minutes were less cohesively dovish than expected (among the majority-7 'there was a material spread of views on the balance of risks to the outlook') there was little to suggest that any additional hawkish voting dissent is imminent, let alone an actual rise in Bank Rate”.
“Recent comments from the two 'hawks', Martin Weale and Ian McCafferty, suggest they remain comfortable with their support for pre-emptive policy tightening, so we expect the MPC Minutes on 17th December to show a repeat 7-2 vote”.