BoE Inflation Report – Speech by Governor Carney – Live

The Bank of England will hold its monetary policy meeting and publish its Inflation Report at 11GMT. The events will be followed by the usual press conference by Governor Mark Carney.

Market consensus broadly expects the BoE to leave its monetary stance unchanged, while MPC members are seeing voting 7-1 in favour of the current status quo (K.Forbes would likely be the sole dissenter, favouring a rate hike).

Furthermore, the central bank is expected to revise higher its inflation forecast for the current year while GDP forecasts could be revised lower. However, in the medium term, the bank should leave its projections unchanged.

The upcoming elections on June 8 would surely prevent any surprises at today’s meeting or sudden changes of the bank’s narrative, leaving the expected revisions of inflation and GDP to be the salient points today.

Key Notes

GBP/USD tumbles to lows on downbeat UK data

Cable’s reaction following lacklustre results from today’s UK docket

GBP/USD: Upside looks unconvincing as focus shifts to UK data, BoE

Sterling’s price action keeps looking for catalysts

What to expect on BOE’s Super Thursday?

Preview of the upcoming events today