eFXdata reports that ANZ Research discuss its expectations for the BoE policy trajectory.
"The BoE is on track to exhaust its QE envelope in late December, ending QE before the Fed and ECB. It has also indicated that it may consider reducing the size of its balance sheet in line with future rate hikes. Expectations of strong growth and monetary tightening are positive drivers for GBP. Although tensions with the EU over the Northern Ireland protocol are ongoing, export volumes are overcoming early Brexit difficulties, the UK is building out its trade relations and fiscal policy is mildly expansionary. We expect these fundamentals will continue to drive moderate GBP appreciation," ANZ adds.
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