BoE amongst market movers today – Danske Bank

Danske Bank analysts suggest that today focus will be on the Bank of England (BoE) rate decision at 13:00.

Key Quotes

“We expect the BoE to remain on hold amid the ongoing political chaos and an approaching snap election. However, we will look for further signs that the BoE is moving closer to easing monetary policy, as the economy is slowing and some MPC members have sounded more dovish recently.”

“In the euro area, we get the European Commission's autumn economic forecast. The report includes the latest fiscal projections, which will be scrutinized by the market not only with respect to Italy, but also for signs that a European-wide shift in fiscal easing is underway, as the ECB has been calling for recently. The autumn economic forecasts will also be discussed at today's meeting of EU finance ministers, who will also debate Isabel Schnabel's bid to take up the vacant 'German' seat on the ECB board.”

“In Germany, we get the September industrial production figures. Yesterday's factory orders beat expectations and increased by 1.3% m/m with rays of light also in the battered car sector. Still, we think today's figures will confirm that the German industrial sector remained in recession for the fifth quarter in a row.”