BoE Monetary Stance Awaited

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The spotlight in today’s trading session undoubtedly lies on the BoE’s interest rate decision. Most expect it to adopt a wait-and-watch approach. However, the dismal first quarter GDP data, coupled with subdued economic indicators, have fuelled market speculation for additional stimulus measures. Meanwhile, data just out revealed that annual industrial production continued to drop for March.
In Europe, the Greek political dilemma continues, as the leader of Syriza party failed to form a government and it looks highly likely that there may be a re-election in mid-June. Across the Atlantic, jobless claims data due today is likely to generate some market interest.

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BoE Monetary Stance Awaited

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