IMO - BoE will not reduce rates as it's far too early to tell whether impact from Brexit as dragged fundamentals down. So far, its just equity and fx that has been hit and BoE will need all the ammo they can get for after Brexit - when it finally happens.
No certainty until May triggers Article 50 - if she can last that long. Will not be surprised if May gets politically sniped in the coming months.
I'm inclined to think that recent lows will be retested before any major upward move. Not sure how markets will react if BoE stays put but leaning towards downward move vs upward.
No certainty until May triggers Article 50 - if she can last that long. Will not be surprised if May gets politically sniped in the coming months.
I'm inclined to think that recent lows will be retested before any major upward move. Not sure how markets will react if BoE stays put but leaning towards downward move vs upward.