Today’s calendar is relatively empty in both the US and Eurozone. The UK turns to centre stage with industrial production numbers and the NIESR rolling GDP estimate today. Further healthy numbers are anticipated ahead of tomorrow’s BoE Inflation report..
This will be the main event of the week. The BoE will likely announce explicit forward guidance, Governor Carney will explain the decision and the choice of conditional targets at his first BoE press conference.
There will be plenty more on the agenda as well. New GDP and inflation forecasts will be discussed, as will the encouraging reacceleration of the UK economy. Plus Mr. Carney will be grilled on his views of communication policy and any further likely initiatives to come. However, additional QE now looks increasingly unlikely any time soon given the strength of the recovery. The BoE will likely be on hold through the remainder of the year after tomorrow’s announceme
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