FXStreet (Delhi) – Research Team at ANZ, notes that the Bank of England struck a dovish tone at its “Super Thursday” policy meeting.
Key Quotes
“The Bank downgraded its near-term inflation forecasts and expects inflation to remain below 1% until H2 2016. The Bank cited ongoing weakness in oil prices, the still elevated level of the GBP and weaker global growth expectations as the key drivers behind its weaker inflation profile.”
“The Bank’s forecasts for end 2017 and 2018 showed inflation pushing above the BoE’s 2% target, implying that domestic cost pressures are expected to intensify. In short, the BoE appears to be comfortably ‘on hold’ for the time being, wishing to gauge the impact of stronger domestic economic conditions and the softer external environment on inflation trends.”
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