BoE: A final 25bp hike in store for March – Danske Bank – by MSalordFX BOE Banks EURGBP
hiked the policy rate by 50 basis points to 4.00%. Analysts at Danske Bank expect the increasingly weak growth outlook to support a near-term ending to the hiking cycle.“EUR/GBP initially moved lower upon announcement but quickly retraced as expected with the more dovish nature of the statement. Followed by a less than expected hawkishEUR/GBP is back close to opening levels.
“We continue to expect the BoE to deliver a final 25bp hike in March. Our expectations fall below current market pricing as we expect the rest of the BoE committee to increasingly turn less hawkish amid a weakening growth backdrop and easing labour market conditions. Markets is pricing in 40bp of cuts during H2, while we keep ourInformation on these pages contains forward-looking statements that involve risks and uncertainties.
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