The Bank of England is poised to keep rates on hold at its April meeting. But will it push back against market expectations of two rate hikes by year-end? The Bank was evidently caught off guard by the reaction to its March decision, which saw even the most dovish officials appear open-minded about hiking rates. Governor Andrew Bailey told Reuters in the days after that investors were “getting ahead of themselves”. We doubt his views have changed since then, but we suspect the Bank will be reluctant to push back too hard on market expectations at Thursday’s meeting. For one thing, market pricing is not quite as ... (full story)