BoE: Expect another 7-1 vote for an unchanged Bank Rate – Goldman Sachs

At today’s BOE meeting, just one week after the UK election, analysts at Goldman Sachs expect another 7-1 vote for an unchanged Bank Rate and an unanimous vote for no change in asset purchases.

Key Quotes

“We recently brought forward our forecast for the first BOE hike from 2019Q2 to 2018Q4, but our conviction about the precise timing is low given complications around Brexit negotiations, which have only increased following the election. We forecast GBP/USD at 1.20 in 12 months though the risk is now that Sterling hits this target sooner.”