Central bank meetings will as always garner huge market interest. However, in reality no monetary policy changes are expected from either the BoE, ECB or Fed this week, despite the fact that all are close to altering their monetary policy settings.
In the case of the BoE this is because the MPC have made it clear that any announcement of forward guidance will be made in tandem with the publication of the Inflation Report on Wednesday August 7th. A doveish post-meeting statement will likely be issued this week. But the main event for UK monetary policy and markets will undoubtedly be next week.
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Commonwealth Bank