All eyes on Bank of England

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.

Check the economic calendar




Bank of England’s Statement
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.

Latest news

US PCE May Soar Soon
US PCE May Soar Soon

The United States Bureau of Economic Analysis will release monthly Personal Consumption Expenditures (PCE) on June 30, 15:30 GMT+3.

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Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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