What to expect?
This article is originally referred from IronFX News.
The BoE is expected to announce its interest rate decision rate tomorrow, at 11:00 (GMT).
BoE is expected to hike rates by 25 basis points (bp), with interest rates reaching +0.75%.
Market is currently pricing in the probability of a 25 bp rate hike by 88.01%, according GBP OIS.
On the financial side the current inflation rate and the low unemployment favour the case of a possible rate hike.
On the other hand a weak GDP growth rate and Brexit uncertainty could be advising caution for the BoE.
A dovish rate hike could be an option for the BoE, where the bank may hike rates as expected, issue though a rather dovish accompanying statement.
Original Source: IronFX News