Bank of England meeting 4 November 2021 - Bank of America expect a rate hike

Preview of the BoE monetary policy meeting Thursday.

Bank of America:

• "We expect a 6-3 BoE vote to hike Bank Rate 15bp on Thursday. However, we do not think that decision is a foregone conclusion.
• We expect BoE forecasts and communication to be consistent with fewer/slower rate hikes than the market prices,"
• "With the market now fully priced for a 15bp rate hike, the risks are obviously skewed towards disappointment and a GBP sell-off, given the amount of rate hikes which are now priced in beyond this meeting. Should the MPC decide to delay the hike, the temptation would be for markets to roll this into December, so any disappointment in GBP would likely be short-lived,"

Snippet via eFX, for bank trade ideas, check out eFX Plus.

Earlier:

• Bank of England Monetary Policy meeting decision due 4 November 2021 - a line-ball call

BoE MPC decision is due Thursday at 1200 GMT.