Reportedly, the ECB is analyzing the possibility of the change of the current inflation target of "below but close to 2%". It weakened the EUR
BOE interest rate stays the same
The Bank of England (BOE) did not announce any major changes in its monetary policy during its today’s meeting. The interest rate stays at 0.75%, which is not a surprise for investors. All of the 9 Monetary Policy Committee (MPC) members voted to hold the rate at the same level, as it was predicted. The committee stated, that any future changes of the interest rate depend on the next steps concerned Brexit deals with the EU. However, these changes will be applied gradually.
In other news, GDP estimate for the 3 quarter raised to 0.5% from 0.4% in August.
The GBP has been rising since September 5, and today didn’t manage to renew highs. As there were no major news expected, the pair GBP/USD was trading in the area around 1.3050.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…