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Market Extra: The pound at $1.3850 or $1.3350? It all rests on the BOE’s ‘Super Thursday’, ING says

It’s been a roller-coaster ride when it comes to expectations for what the Bank of England will do at its policy setting meeting this week.

Just a few weeks ago, a rate rise looked like a done deal, with the market pricing in about a 90% possibility of a tightening at the May 10 meeting. But enter a string of disappointing data—particularly the weak first-quarter growth number—and a dovish Gov. Mark Carney, and investors are now seeing only a 10% chance of a rate hike.

Rabobank

The U.K. central bank in November hiked rates for the first time in a decade and the market has been speculating whether it was a one-time event or the beginning of a new tightening cycle as seen in the U.S.

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