UK: Focus on markets - TDS

Analysts at TDS suggest that they’ll be keeping an eye on UK markets as they think that yesterday’s dovish reaction to the Ramsden and Tenreyro testimony was overdone.

Key Quotes

“With only “a majority” of MPC members looking for rates to rise in the coming months, we knew that there was a dove or two in there somewhere, and Vlieghe’s speech shortly after the September BoE meeting confirmed that it wasn’t him. So now we know that it was Ramsden who was not in that majority, while Tenreyro said that she was minded to vote for the rate increase, which is likely to still give a solid 8-1 majority in favour of a rate hike in November.”