Last week, the BOE took a less dovish stance on monetary policy as they communicated that although they told banks to prepare for negative rates, they didn’t mean to imply that they were going to move rates below 0%. On Friday, the country will release its first look at Q4 2020 GDP. Expectations are for a meager 0.5% vs 16% growth in Q3. However, recall that they country was in lockdown for most of December and was waiting on a Brexit trade deal. In addition, the UK will release data for December Trade Balance, Industrial Production and Manufacturing Production. Although these are backward looking numbers, they may … (full story)
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