Carney & Co are off let loose from the election press blackout
The delayed MPC meeting from last week is today and while it's the usual non-event as far as policy changes go, it does mean the BOE are able to speak freely to the press now. No doubt they are itching to give their views on the economy, especially after the latest growth numbers and the first main stage to do that will be at the quarterly inflation report on Wednesday
While its main purpose is to update the latest inflation outlook, it usually just becomes a complete economic press conference and that poor GDP number will be front and centre of questions. In a lot of ways it will also probably go a long way to previewing the MPC minutes that get released two weeks after today's MPC meeting. We won't get the voting numbers but we'll get the basic message and whether rate hike expectations have been pushed back by the members. It's likely to be a big mover of the pound and decide whether the election rally is sustained or kicked back down towards 1.50
For today, there's a cat in hells chance of getting any policy action so rates will remain at 0.5% and finished QE at 375bn. For a bit of fun though, watch the usual 10/20 pip wobble in when the release comes out
Heeeee's back!!