Upside hopes for the GBP?
The British monthly GDP is announced on Friday at 09:00 MT time.
Is Brexit holding the rates?
The Bank of England is announcing the interest rate decision at 14:00 on November 7.Since 2017, the borrowing rate in the UK has been on a gradual but limited rise, currently being at 0.75%. On September meeting, the Bank of England held the rate at the same level in August but expressed the intention to gradually lift it if Brexit is done painlessly on time and the global economy shows no glitch in steady growth. Both failed so far, with uncertainties around the extended Brexit deadline and a slowdown in the international economic environment damaging the UK economy. As a result, most of the analysts see a rate rise by the BOE unlikely.
If the BOE is hawkish, the GBP will rise.
If the BOE is dovish, the GBP will fall.
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