The US PPI will come out on Thursday, May 12, at 15:30 MT time.
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.
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.
Instruments to trade: EUR/GBP, GBP/USD, GBP/CAD
The US CPI will come out on Wednesday, May 11, at 15:30 MT time (GMT+3).
Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.