BoE, Interest Rate Decision!
In about 1 hour and 30 minutes, BoE interest rate decision is coming up. The market expectation is from BoE to stay with rates unchanged at 0.5%. 45 minutes latter, BoE’s governor Carney have speech and that will be important for the Pound furder move, which is extremely bullish vs US dollar in the last two days. Low inflation and weak growth are already well known facts. The downward revision of the inflation and GDP forecasts should not come as a surprise, but the slack in the labor market could affect the demand for the British Pound. GBP/USD is at this moment at very important technical level 1.4650, in wich I have pointed in my analysis from February 02. It will be interesting to see how the market will react after this event and with this wounded US dollar.
12:00 h (GMT) – BoE Interest Rate Decision!!! Previous 0.5% > Consensus 0.5%. Update > 0.5%!
12:45 h (GMT) – BoE’s Governor Carney speech!!!