From the Bank of England, most forecasters expect the rate growth to increase in 2020, to a healthier 1.6%. Now the indicator is 1.0%. At the end of January 2020, the precise terms of Brexit will most probably happen. But the conditions are unknown yet. It might be that Brexit will harm 2020 growth.
We can say that the Bank of England is moving towards a looser monetary policy.
Moreover, the Swiss National Bank, imposed a negative interest rate, at -0.75%. It is shallow, and it means that in the short term, the interest rate might contribute to a fall in the franc’s value. Most probably, the Swiss National Bank won’t make any cuts or hikes soon. The Swiss National Bank’s last rate action was a cut.
The Swiss National Bank and Bank of Canada
The Bank of Canada’s paid interest rate is 1.75%. Of all the major currencies, it is the highest indicator. Over the next few months, the Bank of Canada will most probably hold rates steady. The most recent action from them was a rate cut.
Their GDP runs at an increased annualized rate of 1.7%. It is a little bit lower than expected.
This is the present position.