BoA preview the Bank of England meeting, +25bp rate hike and then on hold

<p> This is via the folks at eFX. </p><p> For bank trade ideas, <a href="https://ift.tt/IKzB6MO out eFX Plus</a>. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. <a href="https://ift.tt/noqQwdb it here</a>. </p><ul><li>Bank of America Global Research discusses its expectations for BoE policy decision.</li><li> "We expect a 25bp Bank of England rate hike this week, with dovish guidance. But it's a very close call.We would not be surprised to see the BoE keep rates on hold. Either way, we expect no further hikes after this week," BofA notes. </li><li> Our recent analysis has shown that GBP has been agnostic to UK rate moves in recent years. We do not think this is about to change any time soon . For now, position cleansing, a standard market response to a crisis will continue to dominate sentiment. EUR/GBP has been a favored long this year and our momentum indicators have been flashing overbought levels," BofA adds.</li></ul> This article was written by Eamonn Sheridan at www.forexlive.com.

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