FXStreet reports that BMO economists presented their expectations for the Bank of England meeting.

“No changes are expected to be made to rates (Bank Rate 0.10%) nor its Asset Purchase Facility. The tone of the meeting will match the hawkish one assumed at the last gathering in August. The September meeting will see some shuffling of the deck, with two new members joining. Huw Pill is the new Chief Economist. He has hawkish leanings (and replaced the other hawk, Andy Haldane) given that he, in 2010, wrote about the limits to QE. Offsetting his views, perhaps, is Catherine Mann, who replaced well-known dove Gertjan Vlieghe. Both are unlikely to cause waves at their inaugural meeting, but a rate hike discussion is likely to dominate the proceedings. Expect a repeat of the line that some tightening is likely necessary, but policymakers will speak up on the noise in the inflation and wage data. Markets are already pricing in rate hikes in the first half of 2022; so, a similarly hawkish tone won’t be a big surprise. We also moved up our expectation for the first move: a 15 bp hike in May 2022, to get to 0.25%. That will set up the BoE to move in 25 bp increments beginning in 2023.”