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Large banks: what to expect from BOE?

The Bank of England will announce its monetary policy decison at 11:00 GMT. What do large banks expect from the regulator?

Credit Agricole: "In the context of below-target inflation and downside risks to the Eurozone outlook, the BoE is expected to remain on hold in September with the Bank rate unchanged at 0.5% and the Asset Purchases Facility at 375 billion pounds. We continue to expect the first rate hike to come in Q1 2015."

Barclays Capital: "The BoE meets on Thursday and is widely expected to keep its policy rate unchanged, therefore issuing no statement and we would need to wait for the release of the policy minutes on October 22 to get new information on the thinking of MPC members. We expect much earlier tightening from the BoE than is currently priced in SONIA rates. We look for an initial hike at the November MPC meeting and a 25bp per quarter pace of hikes to follow."

Strategists at Bank of America and Goldman Sachs also expect no changes in monetary policy on today's meeting. 

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