Everything you need to know ahead of the Bank of England's June monetary policy committee meeting

pulse

June 15, 2017 6:57 AM

Interest rates are set to stay at a record low of 0.25% and the bank's QE programmes will remain capped at £435 billion.

Bank of England Governor Mark Carney speaks at 2017 Institute of International Finance (IIF) policy summit in Washington, U.S., April 20, 2017.

LONDON — The Bank of England will on Thursday announce the decisions made at the June meeting of its Monetary Policy Committee, and it is likely to be a pretty straightforward, uneventful affair.

"Although Kristin Forbes will probably use her last MPC meeting to vote for a rate hike, mixed evidence on the economy means that the odds of other members joining her are slim," Martin Beck of Oxford Economics wrote in a note to clients

That's a view backed up by Mike Bell, a strategist with $1.7 trillion asset manager JPMorgan Asset Management, who wrote on Tuesday: "The medium term outlook for the UK economy was uncertain before the election, now the Bank of England's crystal ball looks even more opaque. Unfortunately, they cannot ignore the political clouds of uncertainty obscuring their outlook as the outcome of the upcoming negotiations a key issue facing the UK economy.

"Yet they cannot react based on hunches that the recent political result will lead either to a softer Brexit or a cliff edge Brexit."

In short, don't expect any fireworks from the bank on Thursday.

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