BoE’s policy decision may be rendered moot - Scotiabank

Research Team at Scotiabank, suggests that the Bank of England’s policy decision, fresh forecasts and a press conference this Thursday may be rendered somewhat moot, with the EU Referendum vote taking place in the following week.

Key Quotes

“Its prime focus will be upon contingency planning in order to ensure the smooth functioning of markets and the banking system regardless of the vote’s outcome. Starting on Tuesday, the BoE will begin rolling out three special funding and liquidity operations. Depending upon the vote’s outcome, the next BoE meeting could be much sooner than July 14th according to the formal schedule, as the flexibility exists to call an emergency meeting of the BoE’s policy committees if required.”