The BOE: one more interest rate increase?

The BOE: one more interest rate increase?

What will happen?

The Bank of England will make a monetary policy statement on February 3, at 14:00 GMT+2. As usual, it will contain an update on the interest rate and provide monetary policy insights.

Why is it important?

Last month Britain’s central bank became the first major regulator to increase interest rates since the pandemic began. On Wednesday, January 19, the Office of National Statistics reported that inflation once again got higher than expected and hit 30-year highs. That’s why experts believe that BOE might increase the key rate again at the upcoming meeting.

BOE report.png

How to trade on the BOE Interest Rate Decision?

To trade on the event, you need to wait for the livestream on the official BOE website and follow the updates.

  • If the BOE is hawkish, the GBP will strengthen;
  • If the BOE is dovish, the GBP will weaken.

Check the economic calendar

Instruments to trade: EUR/GBP, GBP/USD, GBP/CAD


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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.

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