BoE seen on hold this month – UOB

The BoE is expected to keep its monetary conditions unchanged at its meeting on May 6, suggested Economist at UOB Group Lee Sue Ann.

Key Quotes

“We are likely to see the BoE’s policy rate at current level with further quantitative easing (QE) announced later this year.”

“We do not expect interest rates to begin normalizing before the end of 2022, whilst any downside could see the policy rate cut to zero alongside further increases to the scale of the ongoing QE programme.”