MPC still on track for May hike

With no Monetary Policy Committee (MPC) meeting scheduled in April, its meeting on 22nd March will be the last opportunity for the MPC to lay the groundwork for another interest rate hike in May. Markets are pricing in around a 70% chance of one. But with the MPC unlikely to have formal confirmation of progress on a Brexit transition agreement next week, and the economic data having disappointed recently, hopes of a strong signal either way are likely to be dashed.