– We expect the Bank of England (BoE) to remain on hold at Thursday’s Monetary Policy Committee (MPC) meeting (13:00 CET).
– While it is still too early to declare that a sustainable recovery is underway, the slightly more upbeat economic data mean those who have so far resisted further policy stimulus have little reason to change their positions.
– As there is a broad consensus on unchanged MPC policy (according to a Reuters poll only three out of 63 analysts expect additional QE at this meeting), we should expect a muted market reaction to the announcement of an unchanged policy.
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Danske Bank