Coming up on Thursday June 21 in the UK - the BoE MPC!
- we expect the BoE to largely repeat the message of the May inflation report, ie, waiting for the data to confirm its forecasts.
- In our view, data published since the May IR do not call for any change in tone as they came in either in line or on the soft side.
- Accordingly, we expect the rate to remain at 0.50% (con.: 0.50%), the split in the MPC on rates to remain (7-2 for status quo)
