18 Jun 2014
BoE minutes in focus - RBS
FXStreet (Bali) - RBS FX Strategists anticipate that the BoE minutes will reveal that the vote remains unanimous in favour of no rate hikes.
Key Quotes
"The Bank of England's June MPC minutes are released, and after Governor Carney's surprisingly hawkish comments, there is certainly an increased risk of a divergence among the individual members of the MPC."
"We anticipate that the vote, however, remained unanimous in favour of no change, though Martin Weale is the most likely candidate to surprise with a vote for a rate hike."
"The MPC minutes should further the message sent by Governor Carney, perhaps muting their overall impact (as Carney's comments took away most of the hawkish surprise that may be reflected in these minutes)."
"Regardless, the policy divergence between the BoE and the ECB/FOMC is clear, particularly if the Fed does indeed continue to push a dovish stance at its June meeting. That should remain supportive of gains in the trade weighted GBP."
Key Quotes
"The Bank of England's June MPC minutes are released, and after Governor Carney's surprisingly hawkish comments, there is certainly an increased risk of a divergence among the individual members of the MPC."
"We anticipate that the vote, however, remained unanimous in favour of no change, though Martin Weale is the most likely candidate to surprise with a vote for a rate hike."
"The MPC minutes should further the message sent by Governor Carney, perhaps muting their overall impact (as Carney's comments took away most of the hawkish surprise that may be reflected in these minutes)."
"Regardless, the policy divergence between the BoE and the ECB/FOMC is clear, particularly if the Fed does indeed continue to push a dovish stance at its June meeting. That should remain supportive of gains in the trade weighted GBP."