Bank of England’s Meeting
The Bank of England’s meetings are a key driver of the British pound. During these meetings, central bank officials present their monetary policy stance and set the benchmark interest rate. At the last meeting, the policymakers left their interest rates unchanged at 0.25% despite the evident uptick in inflation. On May 11, the trading community will be keen to know whether the central bank’s position has changed or not. If the BoE Governor Mark Carney sounds more hawkish than usual, wait for GBP appreciation. If there is a dovish tilt in the statement, we will see the pound moving to the downside. The meeting results are due at 14:00 MT time.