GBP/USD: Hawkish BoE to provide little impetus to the pound – BofA GBPUSD EURGBP BOE Banks
BoE to confirm it will cease gilt reinvestmentsto hike 25bp at its meeting this week, then 25bp in May and August. We expect the BoE to confirm it will cease gilt reinvestments when it hikes in February, starting 'passive' Quantitative Tightening . We expect the BoE to also begin active sales in November at an initial pace of GBP5 B a month."
"We doubt that a hawkish BoE provides the kind of impetus that it did in December as GBP enters into a month which has historically presented seasonal headwinds to sterling."Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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