The BOE will announce its last monetary policy decision at 11:00 GMT
Will they join the dovish chorus we're seeing from the Fed and the ECB? This will be a real issue that market participants will be looking for. Here is my opinion and some previews in preparation for the event:
"A unanimous decision to keep the bank rate on hold is expected, but it will be critical to look at the language of the statement. On the one hand, the labor market is holding up and is helping to justify the BOE's reasoning rationale. However, with Brexit's uncertainty still lingering, they have no ability or incentive to pursue it for the time being. The biggest risk now is for the BOE to be forced to abandon its current narrative in light of softer global economic developments – which have now also forced Fed to flip the tail on their patient prejudice. "I think they still have room to communicate a message similar to that in May for now, but it would not be surprising if they took a step back today . "