Today traders await the US inflation data to be out at 15:30 MT. Jump in to get fresh trade ideas for today!
The BOE meeting
|Every month the Bank of England announces the outcome of its meeting. In February, it will do so at 14:00 MT time on February 8. As no changes in monetary policy are expected, the key will be the minutes containing votes of the Monetary Policy Committee’s members.|
|The system X-X-X shows how many members voted for a rate hike, how many – to cut the rate, and how many – to keep the rate hold. Comparing these three numbers with those of the previous minutes, we can make predictions about the future actions of the regulator. The last vote was in December and all members voted not to change the rate. Back then the pound’s reaction was muted. This time the central bank will also release its quarterly Inflation Report, so GBP can make big moves versus other currencies.|
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