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8 May 2015
Next big event in UK: BoE Quarterly Inflation Report – TDS
FXStreet (Edinburgh) - Jacqui Douglas, Chief European Macro Strategist at TD Securities, noted the upcoming relevant event in the UK economy.
Key Quotes
“With the distraction of the election out of the way, and a much quicker and cleaner result than anyone had been expecting, the markets’ focus will turn back toward the macro outlook and the BoE’s next Inflation Report”.
“Looking at the QIR, we think that we’re unlikely to see any substantial forecast changes”.
“With crude oil prices having halted their decline, we think that any vague talk of BoE rate cuts is likely to be shelved for now, although Governor Carney may still have to refer easing in his letter to the Chancellor, released at the same time, as he is obligated to lay out what kind of measures the BoE still has at its disposable if need be in order to push inflation up to target”.
“The QIR and the press conference should be reasonably upbeat though, probably more so than the softer Q1 GDP data would suggest, and will continue to lay out a positive UK macro story for this year”.
Key Quotes
“With the distraction of the election out of the way, and a much quicker and cleaner result than anyone had been expecting, the markets’ focus will turn back toward the macro outlook and the BoE’s next Inflation Report”.
“Looking at the QIR, we think that we’re unlikely to see any substantial forecast changes”.
“With crude oil prices having halted their decline, we think that any vague talk of BoE rate cuts is likely to be shelved for now, although Governor Carney may still have to refer easing in his letter to the Chancellor, released at the same time, as he is obligated to lay out what kind of measures the BoE still has at its disposable if need be in order to push inflation up to target”.
“The QIR and the press conference should be reasonably upbeat though, probably more so than the softer Q1 GDP data would suggest, and will continue to lay out a positive UK macro story for this year”.