Today's BOE meeting will set the stage for August. The jury is still out on whether the Q1 slowdown was temporary,
or the start of a more pronounced deceleration in economic activity. The BoE can cite a slew of recent positive data releases
(services PMI, retail sales) but trade balance, inflation developments and business confidence are weaker.
Overall we don't expect the BOE to be positive today.
or the start of a more pronounced deceleration in economic activity. The BoE can cite a slew of recent positive data releases
(services PMI, retail sales) but trade balance, inflation developments and business confidence are weaker.
Overall we don't expect the BOE to be positive today.
