Market Focus

On Thursday, March 22, 2018, all the attention of market participants will be riveted to the meeting of the Bank of England and the decision on the interest rate.

At this meeting, it is not expected that the Bank of England will raise the base discount rate. In turn, the positive news about Brexit, as well as the persistence of inflation above 2%, may serve as an excuse for tightening monetary policy in the future. Market participants will closely monitor how votes are divided for changing the discount rate. If at least one vote is given for raising the discount rate of the Bank of England, the pound may receive significant support and strengthen its positions within 50-70 points against competitors.

Alexander Sivtsov