Bank of England’s Statement
The Bank of England will announce its policy statement on December 16, Thursday, at 14:00 GMT+2 (MetaTrader time). It will affect all the pairs with the British pound.
All eyes on Bank of England
Instruments to trade: EUR/GBP, GBP/USD, GBP/CAD, GBP/CHF
The BOE will announce its monetary policy and rate decision on Thursday at 14:00 MT time. Let’s find out how this report will impact the pound. Just a month ago the central bank left the bank rate at the record low of 0.1% and increased the size of the bond-buying program more than expected: from 150 billion to 875 billion pounds. Elsewhere, it downgraded its projections on the UK GDP from -5.4% to -11% for the fourth quarter of 2020. The UK is going through one of the toughest periods in its history as it should cope with two problems simultaneously: Brexit and the coronavirus pandemic.
- If the BOE hints at lower rates and its tone is pessimistic, the GBP will fall.
- If the BOE leaves everything unchanged and upgrades its forecasts, the GBP will rise.
Similar
UK Inflation Rate Will Impact GBP
The United Kingdom will publish the Inflation Rate on November 17, at 09:00 MT (GMT+2). How will it impact the markets?
FOMC Will Discuss the Economic Outlook
Federal Reserve will make a statement on November 3, 20:00 GMT+2. There we will hear about Fed’s view on the current economic situation, tapering plans, and other hawkish or dovish tones.
Latest news
Is European Economy Healthy Enough?
Germany will release the flash Purchasing Managers' Index (PMI) for manufacturing and services industries at 10:30 GMT+2 on January 24.
ZEW Sentiment Will Help the Euro
Leibniz Centre for European Economic Research (ZEW) will release an economic sentiment index for Germany on January 18, 12:00 GMT+2
Pound Can Outperform the Market
Great Britain's office for national statistics will release CPI data on January 19, 09:00 GMT+2.
