FOCUS OF THE DAY: The decision of the Bank of England!
Dear traders,
Today, at 14:00 (Kiyv), its decision on the interest rate will be announced by the Bank of England. Most market experts now believe that the interest rate will be kept at the current level of 0.5%.
Chances relative interest rate increase by the Bank of England have fallen sharply since the beginning of April, when 90% of the experts believe that the interest rate will be increased by 25 basis points.
However, a series of weak economic reports practically guarantees that the Bank of England will maintain the status quo. Now it will not be easy to convince investors that the Bank of England will raise the cost of loan funds this year.
Soon after the publication of this report, a press conference will be held by the head of the Bank of England, Mark Carney. Investors will analyze his speech in order to assess the possibility of further raising interest rates in 2018.
Over the past two weeks, the British pound has fallen in price against the dollar by more than 6%. On Friday, its rate fell to a minimum since January. Carney’s statements in favor of a soft monetary policy may lead to further depreciation of the pound. (Investing.com)
Have a good and profitable day, Gentlemen!
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