The BOE meeting: a ray of hope for the GBP?
The Bank of England will release its monetary policy summary and announce the interest rate on September 19, at 14:00 MT time.
A chance for the British pound
Great Britain will release the level of CPI on May 22, at 11:30 MT time. The indicator is considered as the most important inflation data for Great Britain, as it’s used as the inflation target of the Bank of England. Last time the indicator came out lower, than the expectations. It reached 1.9% instead of 2% anticipated by analysts. As a result, the British pound plunged. However, the current release may lead to a different outcome.
• If the actual level of CPI is higher than the forecasts, the GBP will go up;
• If the actual level of CPI is lower than the forecasts, the GBP will go down.
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The European trading session will be highlighted by the events for the British pound. Traders will pay special attention to the BOE meeting at 14:00 MT.
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