3 Aug 2015
GBP/USD: one to watch this week - UOB
FXStreet (Guatemala) - Analysts at UOB Group noted that this week promises to be an interesting one for the UK with the decision of the BoE MPC meeting to be announced, the minutes of the meeting to be released, as well as the August BoE Inflation Report to be published on Thursday.
Key Quotes:
"BoE Governor Carney will also be presenting his accompanying press conference on the Inflation Report 45-minutes later. After the 9-0 vote last time, markets are expecting a 7-2 vote for no change in rates, with some risk of a 6-3."
"Whilst previous dissenting votes have not been a good indicator of a change in policy, and there have been plenty of false starts to the rate hiking cycle in the UK; this time it is a little different, with wage growth climbing for the first time and the unemployment rate down at 5.6%, the lowest since 2008. Even a dove like David Miles seems to be taking a hawkish tack in his latest speeches."
Key Quotes:
"BoE Governor Carney will also be presenting his accompanying press conference on the Inflation Report 45-minutes later. After the 9-0 vote last time, markets are expecting a 7-2 vote for no change in rates, with some risk of a 6-3."
"Whilst previous dissenting votes have not been a good indicator of a change in policy, and there have been plenty of false starts to the rate hiking cycle in the UK; this time it is a little different, with wage growth climbing for the first time and the unemployment rate down at 5.6%, the lowest since 2008. Even a dove like David Miles seems to be taking a hawkish tack in his latest speeches."