BoE expected to be a non-event – Danske Bank

Vladimir Miklashevsky, Senior Economist at Danske Bank, does not expect the upcoming BoE event to leave any room for surprises.

Key Quotes

“Regarding the BoE, we expect a rather uneventful meeting and hence the GBP will stay focused on Brexit negotiations, which bodes for volatility ahead of the key Tory Party conference in late September”.

“Communication from both the EU and the UK has been remarkably positive and solution-seeking lately, which has helped reduce the Brexit risk premium somewhat. But we still think the Tory Party congress is an important hurdle before the Brexit end-game, and still see EUR/GBP upside risks around this event”.