The decision of the Bank of England! TODAY!
Dear traders,
Today, at 14:00 (Kiyv), will be announced the decision on the interest rate of the Bank of England. At the same time, the Bank of England’s quarterly report on inflation will be published. After the publication of this report, a press conference will be held by the head of the Bank of England Mark Carney.
According to the forecasts of the majority of experts, as a result of the meeting, the Bank of England’s Monetary Policy Committee will keep the interest rate at 0.5%, in order to gain additional time to assess the impact on the economy of the interest rate hike in November. This is especially important in connection with the approach of Brexit terms. Investors predict that the next increase in the interest rate will occur quite soon.
Futures give a probability of approximately 50% for the interest rate increase by the Bank of England in May, which can be considered a short period after the November increase, which was the first in the last ten years. Some investors say that there will be two increases in the interest rate in the UK this year.
The pace of growth in the UK economy lags behind the global pace of economic recovery. However, the British economy managed to avoid the worst scenario, which was predicted after the vote on Brexit in 2016.
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