The Bank of England meet Thursday, 11 May 2023:
- This snapshot from the ForexLive economic data calendar, access it here.
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The
times in the left-most column are GMT.
- Bank of England announcement due at 0700 US Eastern time, Bank of England Governor Bailey speaking at 0730 US Eastern time
- The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
Goldman Sachs:
- UK inflation on track to fall rapidly, helped by cooling global energy prices ... [but] was unlikely to drop enough to meet the Bank’s 2% target
- “While it is possible that the monetary policy committee might want to slow the hiking to a quarterly pace after the May meeting, we remain sceptical that this will be feasible amid ongoing inflationary pressures.
- “We therefore expect the monetary policy committee to continue to hike in 25 basis point steps until reaching a terminal rate of 5% in August.”
- "We expect that the Bank will only start to reduce rates from 2024 Q2 given resilient growth momentum,"
