Back
11 Jun 2014
BoE pre election rhetoric - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes the preparations from the BoE on the run up to the elections in 2015.
Key Quotes
"The BOE's McCafferty comments suggest that while there was still some time, the pressure was growing to begin normalizing UK rates. While cognizant that the MPC composition is changing, it continues to appear that a faction is crystallizing that favor an earlier rate hike. It appears more participants are coming over to our view of rate hike in Q1 15, which is before the May election."
Key Quotes
"The BOE's McCafferty comments suggest that while there was still some time, the pressure was growing to begin normalizing UK rates. While cognizant that the MPC composition is changing, it continues to appear that a faction is crystallizing that favor an earlier rate hike. It appears more participants are coming over to our view of rate hike in Q1 15, which is before the May election."