ING on today's BoE decision

While we certainly don't rule out the possibility that the BOE reverses last August's emergency rate cut quite soon, economic uncertainty relating to Brexit and the risks this poses for activity means that such action would not be the start of a new tightening cycle. Moreover, if there is concrete action on a meaningful Brexit transitional deal this would help boost sterling and could dampen the medium term inflation threat. As such, the prospect of a series of rate hikes seems remote.

14 Sep 2017 - 12:24- Economic Commentary- Source: ING

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