What to Expect From the Bank of England Meeting Today
Arslan Butt • 1 min read
The highly anticipated Fed meeting is done and over with, and now markets turn their attention to the UK for the Bank of England’s meeting starting later today. Amid an increasingly likely no-deal Brexit, the BOE seems unlikely to follow other major central banks and turn dovish.
Most economists are expecting the rates to remain on hold at 0.75%. However, it will be interesting to listen to Governor Mark Carney on how the central bank would prepare for a no-deal Brexit.
A chaotic, hard Brexit will most certainly is the UK economy into recession and economists expect the BOE to cut rates by at least 0.25% before January 2020. So far, the central bank has adopted a wait and watch approach towards Brexit, but as the October 31 deadline bears,