BAML rains on the parade (but it rains on every parade in England anyway)
Bank of America Merrill Lynch Research expects no major changes in tone at the BoE's policy meeting on Thursday.
"We look for another 7-1 vote to keep rates on hold We see the end of austerity narrative supporting a bearish rates bias in the short term.
BoE should be a non-event for GBP as markets look ahead to Brexit negotiations.... The Brexit narrative is likely to dominate price action as the UK and EU head into the initial negotiation phase and how the UK government addresses the challenge of its diminished majority in shaping the eventual deal," BofAML argues.
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