Halister News

(Bloomberg) -- There have been few surveys and no official data to show the economic impact of Brexit so far, and financial-market moves since June 23 are growth-positive, Deutsche Bank economist George Buckley writes in client note.

• The August rate decision is just three weeks away and will be accompanied by quarterly forecasts; MPC will have far more post-Brexit data to mull over
  • Newly-appointed Chancellor Philip Hammond is likely to tone down austerity, limiting need for a monetary response
• BOE could instead start a discussion on its various policy options, which would be consistent with Carney’s comments that the July and August meetings should be seen as a “package”
• Expect an easing in word, if not in deed, at today’s policy meeting
• NOTE: Recent GBP gains probably limited amid BOE easing bets, analysts say; 31 of 54 economists in Bloomberg survey expect rate cut today