Thursday preview: BoE's 'Super Thursday' in focus

The Bank of England will take centre stage on Thursday as it releases its interest rate decision, policy meeting minutes and Inflation Report.

In what investors have dubbed “Super Thursday”, the central bank is expected to keep interest rates at 0.50% amid a slowdown in the UK economy and uncertainties ahead of June’s referendum on EU membership.

“We see interest rates only reaching 1.00% at the end of 2017 and 2.00% at the end of 2018,” said Howard Archer, chief European and UK economist at IHS Global Insight.

“Should the UK vote to leave the EU in June’s referendum, monetary policy will become a lot more complicated for the Bank of England. Sterling would be likely to fall sharply, with inflationary implications. However, it is also likely that heightened uncertainty would weigh down markedly on economic activity, especially on business investment, and likely also on consumer spending. The weaker pound though would be supportive to exports.”

The minutes of the Monetary Policy Committee meeting will be closely scrutinised for clues on the next move in interest rates.

The May Quarterly Inflation Report will also provide details on the BoE’s medium-term economic outlook, with consumer price inflation forecasts of particular interest.

Inflation rose just 0.5% in March, according to the Office for National Statistics, well below the BoE’s 2% target.

Thursday 12 May

INTERIMS
Vedanta Resources

INTERIM DIVIDEND PAYMENT DATE
Northamber, Photo-Me International

INTERIM EX-DIVIDEND DATE
Aberdeen Asset Management, DX (Group), Electra Private Equity, Fidelity Special Values, Ranger Direct Lending Fund, Sage Group

QUARTERLY EX-DIVIDEND DATE
Boeing Co, Ediston Property Investment Company, GlaxoSmithKline

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Industrial Production (EU) (10:00)
Initial Jobless Claims (US) (13:30)
Wholesale Price Index (GER) (07:00)

FINALS
JZ Capital Partners Ltd

IMSS
Hansard Global, Old Mutual

SPECIAL DIVIDEND PAYMENT DATE
888 Holdings

SPECIAL EX-DIVIDEND PAYMENT DATE
Admiral Group, FDM Group (Holdings), Fidessa Group, Gem Diamonds Ltd. (DI), U And I Group

AGMS
Cairn Energy, Candover Investments, Cronin Group , Deltex Medical Group, Direct Line Insurance Group, esure Group, Fidelity European Values, French Connection
Group, Highcroft Investment, Hikma Pharmaceuticals, IP Group, ITV, John Laing Group , Lloyds Banking Group, Miton Group, Mondi, Netplay TV, New Europe Property
Investments, Restaurant Group, Serco Group, SIG, Telefonica SA, Tomco Energy, Unite Group, Vesuvius, Wireless Group

TRADING ANNOUNCEMENTS
Cairn Energy, ITV, Mondi, Mondi, Rank Group, SIG, Supergroup, Telefonica SA, Vesuvius

UK ECONOMIC ANNOUNCEMENTS
BoE Inflation Report (10:30)
BoE Interest Rate Decision (12:00)
BoE Interest Rate Minutes (12:00)

FINAL DIVIDEND PAYMENT DATE
888 Holdings, Ladbrokes

FINAL EX-DIVIDEND DATE
AA , Admiral Group, Barr (A.G.), BBGI SICAV S.A. (DI), Blancco Technology Group, Carillion, Centrica, Epwin Group, FDM Group (Holdings), Fidessa Group, Gem
Diamonds Ltd. (DI), Globaldata, Hunters Property , Hydro International, Inmarsat, Macfarlane Group, Morrison (Wm) Supermarkets, North American Income Trust
(The), Quixant, Robinson, Saga , Sainsbury (J), Share plc, SQS Software Quality Systems AG, Trinity Mirror