Super Thursday for the BOE: Rate cut? QE? Or both?

The Bank of England kept us waiting at the first post-Brexit decision. They wanted to wait for more data and perhaps to coordinate with the newly formed government. The wait is over: Carney and his team will now have the fresh Quarterly Inflation Report as well as PMI data. They are expected to take at least one step, and that is probably priced in. Will they both cut rates and add QE? That could already be a toxic mix for the pound. In any case, this Super Thursday should certainly be “super” in terms of sterling volatility.

Video preview of the BOE decision:

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