UK inflation data came in below the median estimate on Wednesday:
- UK August CPI +6.7% vs +7.0% y/y expected
- A one and done case for the BOE now?
- BOE rate hike odds for this week now a near coin flip
- BOE likely to keep bank rate unchanged tomorrow – Goldman Sachs
Goldman Sachs had been forecasting a rate hike from the Bank’s Monetary Policy Committee but changed that to now expecting an on-hold decision.
JP Morgan say:
- “We stick with our call for a hike, but now see this as a coin toss”
The statement from the Bank is due at 0700 US Eastern time:
This article was written by Eamonn Sheridan at www.forexlive.com. Source