BOE Center of Gravity Shifts as Doves Start to Take Hold
A dovish shift is under way at the Bank of England, putting an imminent rate cut firmly in play. Comments from Governor Mark Carney, Gertjan Vlieghe and Silvana Tenreyro signal they could join fellow policy makers Michael Saunders and Jonathan Haskel in voting to lower the benchmark on Jan. 30. Weak growth, inflation and retail sales data have fueled the speculation and traders now put the chance of a move at around 70%, with purchasing manager indexes due Jan. 24 seen as pivotal.
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