How may the BOE  move the GBP?

How may the BOE move the GBP?

The Bank of England will have the monetary policy meeting today at 14:00 MT time. Analysts expect the interest rate to remain unchanged at 0.75%, but there will be some more interesting things to follow during the event.

Hints on future easing

The Bank of England meeting is usually followed by the official votes of the Monetary Policy Committee members. Last time, two of them: Michael Saunders and Jonathan Haskel called for lower interest rates. This time analysts expect them to repeat their moves. Some of them even predict the third member: Gertjan Vlieghe to turn dovish, too.

Now, after the election is over and the UK Prime Minister Boris Johnson threatens to change the law to stop the extension of the Brexit transition phase, some of the analytical banks start to expect the BOE to cut rates in January. According to Bloomberg, traders already price in the rate cuts through the next year.


It is worth mentioning the weak economic data of Great Britain. You can read the detailed analysis of the economic situation in Great Britain and the long-term forecasts for the GBP here.

What does the BOE governor say?

The meeting will be also important for the comments by the BOE Governor Mark Carney. Earlier this week he noted that the possibility of a no-deal Brexit increased due to the Tories victory. He also warned traders to prepare for a “high-level update” on the economy today. So, prepare your nerves. Let’s not forget that Mr. Carney is due to leave the post of the governor on January 31, and his last meeting may be full of surprises.

What about GBP/USD?

After testing the support at 1.3050 on the daily chart, which lies close to the border of the ascending trendline, the pair is preparing for its further move. If the GBP gets stronger today, the pair will likely retest the 1.3175 level. The next key level for bulls will lie at 1.3260. Bearish scenario may happen ifs the pair breaks below the uptrend and the 1.3050 level. After that, the next key level in the focus of bears will be placed at the psychological point of 1.3.


Follow the updates on the official BOE site and on our Telegram channel.


Monday started with volatility
Monday started with volatility

Have a look at the key financial instruments on Monday, February 28. Geopolitics is currently on all news frontlines. Western nations escalated sanctions on Russia for the invasion of Ukraine.

Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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