The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
BOE holds its rate at 0.25%
The Bank of England kept its benchmark interest rate intact and also announced no change to its asset purchase facility program, as Britain’s major bank revealed on Thursday.
The BOE accounted that it was holding the benchmark interest rate at about 0.25%, which is a widely expected move. Additionally, the major bank also informed that it was about to maintain the stock of asset purchases funded by the issuance of major bank reserves at £435 billion.
Minutes from the major bank's policy gathering revealed that eight members were in favor of leaving the major interest rate at the current record minimum of 0.25%.
By the way, dissenting member Kristin Forbes baсked a 0.25% lift in the benchmark rate to 0.50%.
Market experts expected the Bank of England to vote 9-0 to keep its policy steady.
The currency pair GBP/USD was trading at 1.2320 from approximately 1.2260 ahead of the announcement. Meanwhile, EUR/GBP hit 0.8705, compared with the previous outcome of 0.8746 earlier.
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.
The United Kingdom will publish the Inflation Rate on November 17, at 09:00 MT (GMT+2). How will it impact the markets?
The US Institute for Supply Management will release ISM manufacturing PMI on July 1, 17:00 GMT+3.
The United States Bureau of Economic Analysis will release monthly Personal Consumption Expenditures (PCE) on June 30, 15:30 GMT+3.
The governor of the Bank of England, Andrew Bailey, will hold a speech on June 29 at 15:30 MT time (GMT+3).