TODAY: The decision of the Bank of England!
Dear traders,
At 14:00 (Kiyv), the Bank of England will announce its decision on the interest rate, and then its head Mark Carney will hold a press conference.
Although analysts do not forecast an increase in the interest rate, the Bank of England may indicate the possibility of such a decision in May if the inflation report published on Monday and the employment report published on Tuesday point to good economic growth.
The attention will also be around Brexit. On Thursday, a two-day summit of the European Council will begin, at which an attempt will be made to conclude an agreement on the transition period after Britain’s withdrawal from the EU. (Investing.com)
The leading analyst of Ester A.Sivtsov writes:
“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. “
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Have a nice day!
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