Bank of England Statement: What to Expect

Bank of England Statement: What to Expect

What will happen?

The Bank of England will publish its Monetary Policy Report and Summary, Official Bank Rate, and its votes on May 5 at 14:00 MT. The report contains the inflation forecast and economic growth over the next two years. The head of the BoE will also hold a press conference to discuss the report’s contents after its release. It provides valuable insights into the bank’s views on economic conditions and inflation, which are key factors that will determine the future of monetary policy and influence interest rate decisions. This monthly releases has a direct impact on GBP.

Possible GBP movements

Lately, the Bank of England said it would consider selling the securities back to the market once the bank rate hits 1%. Now the interest rate is 0.75%. However, poor market liquidity and heightened volatility suggest that the committee is likely to hold off for now and wait for conditions to improve before jumping into active selling.

The geopolitical crisis impacts the UK immensely with high commodities prices and the consumer price inflation rate of 7%, the highest of the last 30 years. It increased the pressure on Prime Minister Boris Johnson and his finance minister, Rishi Sunak, to lower the cost-of-living level.

The previous release was on March 17. The BoE policy was rather dovish. Right after the release, the GBPUSD fell 1150 points.


How to trade on the UK Official Bank Rate release?

The higher the “Actual” rate relative to the “Forecast”, the better for the currency.

Financial analytics suppose that the Bank of England will raise interest rates to 1% from 0.75% on May 5 and then bring them to 2%-2.25% by the end of 2022. Although, many economists expect the rate to be less aggressive.

Samuel Tombs, chief economist at Pantheon Macroeconomics in the UK, forecasts inflation to reach 8.8% in April after utility bills skyrocket but then fall below the Bank of England's target of 2% in the second half of next year.

Check the Economic Calendar

Instruments to trade: GBPUSD, EURGBP, GBPCAD, GBPJPY.


How to trade the JPY?
How to trade the JPY?

Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:

Is Inflation Defeated?
Is Inflation Defeated?

Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.

Who Will Rule the US?
Who Will Rule the US?

The week will have the biggest event in the US political process over the last two years. How will the elections affect the Forex market? We covered the most important news of this week in this report.

Latest news

Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

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

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera