6/18, 7:14 PM (Source: TeleTrader)
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BoE to further reduce QE by summer - Wells Fargo

Analysts at Wells Fargo published a report on Friday, forecasting that after the monetary policy meeting next week the Bank of England will signal another slowdown in bond purchasing, most likely by the end of summer.

"At the BoE's meeting next week, we expect policymakers to provide an update on how the economy is evolving and if the renewed spread of COVID is disrupting economic activity. In addition, we expect BoE officials to provide an updated view on inflation and whether price growth is transitory or more engrained," Wells Fargo economy experts wrote.

According to analysts, the pace of Britain's recovery has been impressive as monthly GDP data have reflected a sharp increase following the gradual lifting of restrictions. The nation's CPI inflation topped 2% for the first time since 2019. However, due to a spike of Delta variants, UK Prime Minister Boris Johnson postponed the country's full reopening from June 21 to July 19.

Breaking the News / LH