BoE policy decision preview, Aug (Thurs 2 Aug) - Nomura

Analysts at Nomura expect the Bank of England to raise interest rates for a second time this cycle by 25bp. 

Key Quotes:

"This is supported by the data – unlike in the run up to the August 2017 and May 2018 policy meetings the surprise index has not collapsed ahead of the forthcoming meeting."

"The Bank publishes its Inflation Report forecasts too – the focus as usual will be on the Bank’s estimate of inflation towards the end of the horizon (i.e., two to three years ahead), but also on the Bank’s thoughts on equilibrium interest rates."

"Recall that based on unchanged monetary policy the Bank saw inflation settling at a little over 2.35% in two to three years’ time. See our main article this week for a preview of the meeting."