|8 Jul/11:00||BoE||0.50||no change|
|No changes expected from the BoE this month, with rates static at 0.50% and the asset purchase target at GBP200bn; but the prospect for the path of interest rates in the UK has certainly become more interesting since the revelation of a split vote at the last meeting. The most recent release showed that annual inflation pared back to 3.4% in May; down from the prior 3.7% seen in April but still well in excess of the 2.0% target and indeed the 3.0% threshold set by the Treasury. Ultimately, even if MPC member Sentence (the sole dissenter looking for a hike last month) does manage to sway some of his borderline colleagues to consider a hike as well, it is unlikely the hawks will muster the numbers for an actual hike at this meeting. Instead we will have to wait for the release of the Minutes on 21 July to hear the juicier points of discussion.|
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