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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3054
Posted: Feb 22, 2010 5:00
Comments: 3054
Forum Topic:
GBP
Discuss GBP
HSBC does NOT see BoE rate hike in 2011
http://on.ft.com/fieR3S
Ashraf
Fortunatey, this time around the BOE is in extremely good hands with Mervyn King.
My fee would be quite modest, let's say 300k/month with tax free y/e bonus 3mil if I perform well. No pension required, no severance penalty.
BOE: SocGen has become latest bank to push back its rate calls from
May -- joining BarCap, Citigroup, Nomura, RBS, BNP Paribas and JP
Morgan. In his latest note, UK economist Brian Hilliard has changed his
UK Rate Hike call from May to Aug following the weaker than expected
inflation reading and ahead of next Wednesday's GDP figure.
April MPC minutes show that members are becoming increasingly concerned about the
weakness of growth. "The key sentence in the BoE MPC minutes was in the
paragraph covering the views of the undecided members", says Hilliard.
It said "the news over the month about demand and activity had probably
been to the downside. An increase in Bank Rate in current circumstances
could adversely affect consumer confidence, leading to an exaggerated
impact on spending." SocGen now expect the MPC to wait until the
August meeting to hike by 25bps.
I will be providing this MNI FX Bullets as PART of my Premium Service later this month
Ashraf
By KM - AshrafLaidi.com Staff