Intraday Market Thoughts

UK Autumn statement boosts BoE doves

by Ashraf Laidi
Dec 3, 2014 16:31

The 2014 UK autumn statement could be dubbed as the statement of downward revisions as forecasts for growth, borrowing, unemployment and inflation were all revised down for 2015 and beyond. The unavoidable implication for currency traders is that the Bank of England will find it nearly impossible to raise rates in 2015.  The fiscal-monetary policy mix will not help, and falling government revenues from North Sea will outweigh any windfalls to consumers. Full charts & analysis.

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UK Autumn statement boosts BoE doves - Uk Us 10 Yields Dec 3 (Chart 1)

 
 

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