The BOE will announce its latest monetary policy decision at 1100 GMT
Will they join in on the dovish chorus that we're seeing from the Fed and the ECB? That will be real question that market participants will be looking for. Here's my take and a couple of previews in preparation for the event:
"A unanimous decision to keep the bank rate on hold is expected but it'll be key to look at the language in the statement. On the one hand, the labour market is holding up and is helping to justify the BOE's reasoning for gradual rate hikes. However, with Brexit uncertainty still lingering they have no capacity or incentive to pursue that for now. The bigger risk now is will the BOE be forced to abandon its current narrative in light of softer global economic developments - which has now also forced the Fed to turn tail on their 'patient' bias. I reckon they still have room to communicate a similar message to that in May for now but it wouldn't be surprising if they took a step back today."
