BoE: to cut by 25bps - Scotiabank

Analysts at Scotiabank noted the forthcoming BoE.

Key Quotes:

"We look for a 25bps rate cut and GBP50bn in additional asset purchases."

"We don’t think the full scale of easing is reflected in the GBP at this point and we expect renewed weakness in response to the decision."

"CIPS/construction PMI today weakened to 45.9 in July (versus 46.0 in June) but the result was not as bad as the consensus expectation (44)."