Forex Flash: The BoE will provide a little support to the BoE

FXstreet.com (San Francisco) - The Bank of England is schedule to hold its monthly monetary meeting next April 4th at 11 GMT. Market is expecting the BoE to hold the size of the asset purchase facility and keep unchanged the interest rate at 0.5%.

According to the Rabobank Senior Currency Strategist Jane Foley, "the March MPC minutes highlighted sterling weakness and a potential increase in inflation expectations as arguments against more QE."

Rabobank still sees "scope for more assets purchases to be announced in May but favour steady BoE policy in April." Foley believes that "this should allow GBP a little support."