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10 Mar 2014
Flash: BoE unlikely to halt GBP appreciation - UOB Group
FXStreet (Barcelona) - Lee Sue Ann, Market Strategist at UOB Group notes that the BoE maintained the official Bank Rate at 0.5%, and kept the programme of asset purchases steady at GBP375bn.
Key Quotes
“Like usual, the MPC refrained from releasing a policy statement, and hence, the minutes later this month would be of more interest. With GBP/USD comfortably hovering around the 1.6700-figure, it seems the BoE will do little to halt the appreciation in the GBP as it helps to achieve the 2% target for inflation.”
“As far as data is concerned this week, highlights include industrial production figures for January followed by the NIESR’s estimate of GDP in the 3-months to February on Tuesday. January external goods trade data will also be released on Wednesday.”
“Thursday sees the RICS publishing its own housing market survey for February, whilst the ONS construction output figures for January will be the focus on Friday. Beyond the data on tap, Governor Mark Carney, Paul Fisher, David Miles and Martin Weale are scheduled to testify in front of Parliament’s Treasury Committee on Tuesday.”
Key Quotes
“Like usual, the MPC refrained from releasing a policy statement, and hence, the minutes later this month would be of more interest. With GBP/USD comfortably hovering around the 1.6700-figure, it seems the BoE will do little to halt the appreciation in the GBP as it helps to achieve the 2% target for inflation.”
“As far as data is concerned this week, highlights include industrial production figures for January followed by the NIESR’s estimate of GDP in the 3-months to February on Tuesday. January external goods trade data will also be released on Wednesday.”
“Thursday sees the RICS publishing its own housing market survey for February, whilst the ONS construction output figures for January will be the focus on Friday. Beyond the data on tap, Governor Mark Carney, Paul Fisher, David Miles and Martin Weale are scheduled to testify in front of Parliament’s Treasury Committee on Tuesday.”