BoE seen on hold on Thursday – UOB

Economist at UOB Group Lee Sue Ann sees the Bank of England (BoE) keeping its monetary conditions unchanged at Thursday’s meeting.

Key Quotes

“With the pandemic still taking its toll on businesses and households, and the outlook highly uncertain, the BoE will be cognizant of the risks and hence, likely to maintain a very accommodative monetary policy stance until the recovery is on a firmer footing.”

“At this juncture, we are not ruling out an acceleration in the pace of bond purchases, or changes to the Term Funding Scheme.”

“As for negative interest rates, we are not expecting any further cuts for now.”