BOE to re-emphasize the conditionality of its forecasts - Westpac

Analysts at Westpac offer their expectations on Super Thursday’s Bank of England’s triple showdown – the monetary policy meeting, its minutes and the quarterly inflation report (QIR).

Key Quotes:

“In March, the BoE left the Bank Rate unchanged and maintained its very mild tightening bias. 

That tightening bias was contingent on a smooth post-Brexit transition. 

Since the BoE's last update, economic activity has been a little firmer than expected. However, Brexit-related uncertainty - which has been a significant drag on investment spending and economic growth - has continued unabated. 

At the same time, inflation remains well contained. 

Against this backdrop, there's no chance of a change in the Bank Rate this month, and the BoE will once again emphasise the conditionality of its forecasts.”