FXStreet (Bali) - RBS FX Strategists provide their view on the upcoming BoE MPC minutes, noting that the GBP reaction may be modestly negative.



Key Quotes



"The Bank of England MPC minutes are released for the July meeting. Our base case scenario is a unanimous vote in favour of unchanged monetary policy. The BoE’s MPC should have had advanced notice of the upside surprise in June inflation, which was released a few weeks after the July meeting, which increases the risk of a dissenter."



"Nevertheless, we see August’s meeting, which coincides with new inflation forecasts and a fresh Quarterly Inflation Report, as more likely ground for hawkish dissenters. While no dissent and a largely unchanged message may be in the price, the GBP reaction may be modestly negative, as those anticipating a hawkish dissent and/or a more clear hint of a hawkish policy update with the August forecast round are disappointed."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD stages crushing decline

  2. Forex News

    GBP/USD free-fall continues; now testing June 11 low of 1.5420

  3. Forex News

    GBP/USD drops below 61.8% Fib R of June rally

  4. Forex News

    USDOLLAR Index Makes First Attempt at Breakout

  5. Forex News

    GBP/USD sinks to fresh 4-week lows near 1.5460

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!