Focus on BoE meeting later tonight (7pm SG/KL time), which
also sees the release of Minutes and Quarterly Inflation Report. We are
expecting a 25bps cut but the extent of additional stimulus will be the
key focus and is based on Committee’s updated forecast (which is expected
to be included in the QIR). We do see rising risks of asset purchases
potentially targeted at private sector as a mean of credit easing but
this is not our base case scenario at this meeting unless ...