How much stimulus the Bank of England delivers on Thursday is clouded by the fact that Mr Carney has indicated that the July and August MPC meetings should be seen as a package that will likely deliver stimulus,’ he said.
The Bank of England is expected to cut interest rates down to near-zero levels this week amid fears of a UK recession.
The Monetary Policy Committee (MPC) is forecast to lower rates to around 0.25% on Thursday.
Some believe the MPC may cut rates to a level even lower than that, with Bank of America Merrill Lynch expecting policymakers to slash rates to as low as 0.1%.
A cut would represent the first change in UK interest rates since it was slashed to 0.5% in March 2009.
comment gbp hasty devalue forces china on faster cores devalue and eur with jpy but they are devaluing against gold.and still thin market, bets
Mtl JP 18:10:57 GMT - 07/09/2016
re "post-Brexit trading where GBP has been trying to find some equilibirum ranges to trade."
not sure what exactly is "equilibirum ranges" but I have the distinct impression that rockstar central banker carney is on a currency war path with brexit being nothing but convenient smoke screen
Under his tutorship he is claiming that "The economic outlook has deteriorated and some monetary policy easing with likely be required over the summer," making similar chirping sounds like some cretins from main-stream towers of monetary wisdom that "I want to re-emphasize that the bank has taken all the necessary steps to prepare for these events. And we will not hesitate to take any additional measures required to meet our responsibilities as the United Kingdom moves forward," and to make sure it has taken all the necessary steps to prepare "In August, we will also discuss further the range of instruments at our disposal," Carney said, laying the groundwork for possible policy changes.
With a light economic calendar next week the focus will be on the aftermath of the strong US jobs report on Friday. This has been a diversion from post-Brexit trading where GBP has been trying to find some equilibirum ranges to trade. While some will be feeling the effects of the forex whipsaw that followed the employment report release, the Amazing Trader did not fall victim to the stop hunt. Meanwhile, the levels to watch are clear as I point out in my weekly outlook..
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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