The British pound is awaiting the BOE meeting

The British pound is awaiting the BOE meeting

The monetary policy summary by the Bank of England will be out on August 1, at 14:00 MT time.

We do not anticipate any changes to the interest rate this time, but the Bank of England may throw some hints on the further steps regarding its monetary policy. Despite the risks that the new Prime Minister Boris Johnson will leave the EU without a deal, the bank seems to stick to its plan to raise interest rates gradually for now. Will the policymakers change their tone to more dovish amid the trend of global easing?

• If the BOE is hawkish, the GBP will rise;

• If the BOE is dovish, the GBP will fall.

Check the economic calendar

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