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'Surreal' market environment could focus on Brexit Thursday

Brexit could return to the forefront on Thursday, as the Bank of England meets and big U.S. banks start to roll out earnings.

The Bank of England meeting puts the spotlight back on how the U.K. will deal with the financial implications of its exit from the European Union, now that Theresa May was named Prime Minister Wednesday. Bank of England Governor Mark Carney has suggested more than once that the central bank could provide stimulus this summer to ward off a recession, and many in the markets take him at his word.

A Reuters survey of economists showed that 39 of 60 respondents expected the central bank to announce a quarter point cut to the 0.5 percent bank rate when it issues its statement at 7 a.m. EDT.