BoE: more QE in Nov-20, not negative rates
- The BoE MPC voted unanimously in favour of no policy change at its September meeting, while focusing on the economic impact of Covid and Brexit ahead of the November meeting. I still expect another QE extension announcement then.- I assume the pace will be unchanged into 2020, with the MPC only mentioning an increased scenario. An operational probe of negative rates starts in Q4, likely keeping that outcome off the table in Nov, and still not likely later, in my view.
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