9 Jul 2014
BoE on hold in June but the hike will come swift - Steve Ruffley
FXStreet (Łódź) - Steve Ruffley, Chief Market Strategist at InterTrader.com, doesn't expect much from the BoE at its monetary policy meeting tomorrow, but suggests that the first rate hike is drawing near.
Key quotes
"Very little is expected from Mark Carney at this point with regards to the asset purchase and the headline rate."
"With his recent comments and turn around on house prices and rates, his somewhat hawkish tone surprised the markets."
"These comments, which I thought personally where the most sensible thing he has said directly to market in some time, has lead to the speculation that rates indeed are set to rise."
"The pound is up nearly 4% against the dollar so good news for holiday makers."
"The bad news is that anyone that has debt on credit cards, loans or their mortgages are in for a rough ride."
"The hike will come swift and often and the 4 million people in the UK that are ‘unreasonable’ debt are in trouble."
Key quotes
"Very little is expected from Mark Carney at this point with regards to the asset purchase and the headline rate."
"With his recent comments and turn around on house prices and rates, his somewhat hawkish tone surprised the markets."
"These comments, which I thought personally where the most sensible thing he has said directly to market in some time, has lead to the speculation that rates indeed are set to rise."
"The pound is up nearly 4% against the dollar so good news for holiday makers."
"The bad news is that anyone that has debt on credit cards, loans or their mortgages are in for a rough ride."
"The hike will come swift and often and the 4 million people in the UK that are ‘unreasonable’ debt are in trouble."