Friday, 15 October, 2021
JPM see reduced risk of 2021 hike
{GB} JPM see reduced risk of 2021 hike
JP Morgan note that they think the risk of a hike this year has fallen (particularly for November) after yesterday’s comments from Tenreyro and Mann.
“On the surface these comments are not such a great surprise, as the doves are sounding dovish. But a rate rise this year would require either a narrow vote on the MPC in favor of a move, or at least one of the committee’s doves to shift tone… This arguably reduces the chances of a rate rise this year,or at least for November.”
“At the same time, the remarks from the two members above are worded in a way that leaves open a path for their views on policy to evolve… We continue to see a 15bp February hike, with risks of a December move.”
——————————————————————————-
This message may contain confidential or privileged information. If you are not
the intended recipient, please advise us immediately and delete this message.
The unauthorised use, disclosure, distribution and/or copying of this e-mail or
any information it contains is prohibited.
This information is not, and should not be construed as, a recommendation,
solicitation or offer to buy or sell any securities or related financial
products. This information does not constitute investment advice, does not
constitute a personal recommendation and has been prepared without regard to
the individual financial circumstances, needs or objectives of persons who
receive it.
