Bank of England: expectations of a May hike completely evaporated - Scotiabank

Analysts at Scotiabank noted that GBP is consolidating just above its recent multi-month low. 

Key Quotes:

"Local markets are closed for holiday and all eyes are on this Thursday’s Bank of England rate decision. Expectations of a May hike have completely evaporated and OIS are only pricing roughly 20bpts of tightening by November."

"The MPC voting intentions will be closely scrutinized as McCafferty and Saunders were the only members to call for a 25bpt hike at the last meeting."