BOE PREVIEW: GBP MIGHT GET A BIT OF RELIEF IF RATES DO RISE – SOCGEN
Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes today’s rate decision in the UK.
Rate hike not enough to prevent a break of GBP/USD 1.20 in due course
A 25 bps hike would be justified on the grounds that softer inflation will be too little to offset the strength of wage growth and the tightness of the labour market.
GBP might get a bit of relief if rates do rise, but not enough to prevent a break of GBP/USD 1.20 in due course.
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