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The Bank of England will surprise today

…with its openness. Until now, the central bank hasn’t demonstrated particular transparency in communication with the markets: accompanying statements after the meetings were published only in the event of changes in monetary policy, and the press conferences were also held on special occasions. Therefore, its was quite difficult to make forecasts for the British monetary policy. But the Bank’s Governor Mark Carney, who moved to the UK from Canada two years ago, finally decided to reform this venerable institution …

So today, the markets expect a real feast by the Bank of England. Interest rate decision will be announced at 11:00 GMT, and the following news will be published:

  • accompanying statement,
  • Monetary Policy Committee (MPC) meeting minutes
  • Quarterly inflation report
  • Mark Carney’s press-conference

I believe, that having analyzed all this information, we’ll be able to more clearly understand what to expect from the British central bank in the next two-three quarters. Let me remind you, that based on those bits of information that are falling from the British “table”, I predicted that the first rate hike in the United Kingdom would be held in the first quarter of next year. Perhaps now, with the new data to be released, the forecast will have to be revised.

 

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!

…with its openness. Until now, the central bank hasn’t demonstrated particular transparency in communication with the markets: accompanying statements after the meetings were published only in the event of changes in monetary policy, and the press conferences were also held on special occasions. Therefore, its was quite difficult to make forecasts for the British monetary policy. But the Bank’s Governor Mark Carney, who moved to the UK from Canada two years ago, finally decided to reform this venerable institution …

So today, the markets expect a real feast by the Bank of England. Interest rate decision will be announced at 11:00 GMT, and the following news will be published:

  • accompanying statement,
  • Monetary Policy Committee (MPC) meeting minutes
  • Quarterly inflation report
  • Mark Carney’s press-conference

I believe, that having analyzed all this information, we’ll be able to more clearly understand what to expect from the British central bank in the next two-three quarters. Let me remind you, that based on those bits of information that are falling from the British “table”, I predicted that the first rate hike in the United Kingdom would be held in the first quarter of next year. Perhaps now, with the new data to be released, the forecast will have to be revised.

 

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!



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