In their BoE preview for today's MPC meeting Scotia says its a closely balanced call
- our team has shifted its outlook ... from an extended hold through end-2021 to a possible cut
- with no changes to the BoE's balance sheet at this meeting
- If, instead, the BoE doesn't cut, our team expects it to communicate a dovish hold in line with recent statements by MPC Members.
- Further action-either to initiate or implement additional cuts-will be dependent on the scale of fiscal stimulus announced in the March 11 budget and ongoing uncertainty connected to the United Kingdom's negotiations with the European Union on its future trading relationship. We expect talks to extend well beyond the Johnson Government's end2020 deadline.
Last meeting for Mark Carney today. Pre-Brexit bailing: