The Old Lady can afford to be patient

According to this article by the Financial Times, published on Wednesday 2 August, there is a big difference between the predictability of the ECB's plans on Thursday, and the uncertainty surrounding the Bank of England's decision the same day.

"The ECB has been stage-whispering its intentions to raise rates by 25 basis points to 3 per cent, given that inflation is at 2.5 per cent and its target is to keep inflation near or below 2 per cent."

"If anything, the future trajectory of ECB rates see