Market Focus

On Thursday, 10.05.2018, all 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, market participants will closely monitor how votes are divided for changing the discount rate. At the previous meeting, for raising the discount rate of the Bank of England was given 2 votes against 7. If the vote grows, the pound can get significant support and strengthen its positions within 50-70 points against competitors.

In addition to the British news, the market will be focused on inflation data in China and the US. The growth of the CPI in the US in April is expected to be very restrained, but remains within the norm. The consumer price index promotes the growth of inflationary target pressure and, as a result, tightening of monetary policy.

Alexander Sivtsov