This is a real quick one from Barclays (via eFX)
If our forecasts for no change in BoE policy materialise this Thursday, the GBP may find some temporary support, given that interest rate markets imply about a 70% chance of a 25bp Bank Rate cut and the median analyst surveyed by Bloomberg expects a 25bp rate cut.
The statement and minutes, however, should be decidedly dovish, with Gertjan Vlieghe and Andy Haldane likely to vote for a rate cut, encouraging our view of policy easing at the 4 August meeting.
And, that's it!
I'll have more on the BoE later today - their meeting is today (Thursday) London time
