• We expect the Bank of England (BoE) to remain on hold at Thursday’s Monetary Policy Committee (MPC) meeting (13:00 CET).
• This is the first meeting of the MPC with Mark Carney at the head of the table. Even though we think that some form of forward guidance is the most likely policy change in the near future, we do not expect it to come until 7 August with the next Inflation Report.
• If Thursday poses any change from the recent meeting routine, we think a change away from the usual ‘no change in policy-no statement’ is more likely than any ‘hard’ policy changes. A more extensive statement might accompany the decision
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Danske Bank