No surprises expected today at the BoE, ECB events – Danske Bank

Chief Analyst at Danske Bank Christin Tuxen gives her opinion on today’s ECB and BoE meetings.

Key Quotes

“Yesterday, the Head of the EU Commission, Jean-Claude Juncker, in his state-of-the-union speech, had two noteworthy messages for majors: (i.) he stressed that the EU is eager to avoid a cliff-edge Brexit (GBP positive) and (ii.) the EU wants to strengthen the international role of the euro (EUR positive but only longer term)”.

“Today, both the ECB and the Bank of England (BoE) are holding policy meetings. As we see little possibility of the ECB announcing any new policy signals, we look for a limited market reaction in EUR. The BoE also looks set to be a dull affair for GBP with the latter much more focused on Brexit negotiations than an on-hold-BoE at present”.