BoE: No change in rates today - Rabobank

Analysts at Rabobank suggest that in the UK, we have Carney presiding over a Brexit carnival and the Quarterly Inflation Report, and the market is expecting no rates change with a 9-0 vote.

Key Quotes

“We don’t expect the BoE to alter its policy settings either, and a tight labour market indicates that a rate hike would have been on the cards for today’s meeting, but this is being more than overshadowed by Brexit uncertainties.”

“The meeting in May offers the best hope of a hike to 1.00%. This, however, assumes that the UK will be leaving the EU with a deal in place. If there is no sign of any material progress on Brexit in the next few weeks, leaving the MPC without the clarity it so much needs, we may want to re-visit our forecast.”