Market Movers
The main event today is the Bank of England (BOE) meeting, which we expect to be the first step towards the beginning of new hiking cycle. We expect the Monetary Policy Committee (MPC) to vote in favour of keeping the Bank Rate and stock of purchased assets unchanged but the MPC members to be divided on the rate decision, as we believe the most hawkish MPC members will vote in favour of a rate hike. See Bank of England Preview: First step towards the beginning of new hiking cycle for more details.
At the same time as the BoE announcement, the minutes from today's meeting and the new inflation report will be released. In the latter, the new projections, including the effects of the government's fiscal plans, will attract attention.
In the US the weekly initial jobless claims figure is due for release and is expected to remain at a solid level.
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