Reuters polled UK economists on expectations for growth and mon pol:

  • See 50B pounds of additional asset purchases, prob in Nov
  • Q3 growth seen at +0.6% vs +0.7% in Aug poll
  • Q4 growth seen at +0.2% vs +0.3% in Aug
  • Full-year GDP seen at -0.3%, same as Aug

For the US, QE3 expectations continue to rise

  • Economists see 65% chance of QE3 vs 60% in Aug
  • See tomorrow as likely launch data of QE3
  • Q3 GDP seen at 1.7% vs 1.8% in Aug
  • Full-year GDP seen at 2.2% vs 2.1% in Aug

I would say the market is pricing in an 80% chance of QE3 tomorrow.