Forex Flash: UK March construction PMI confirms soft economy suspicions - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that UK March construction PMI came in slightly lower than expected at 47.2 (exp. 48.0), consistent with our view that the UK economy remains soft overall.

They comment that BoE Governor King has been outvoted as the majority refuses to renew the gilt purchase program. They feel that this will likely change later in the year, after Carney has been installed as the new Governor. They see no change in BOE policy this Thursday.