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Market Comment - 4th August 2022

Posted by Stuart PritchardAugust 4, 2022

Good morning,

Here we are....Super Thursday. First is the Bank of England interest rate decision. Analysts have predicted another hike. This time of 0.5% taking the base rate to 1.75%. Following the 0.75% hike in the States this looks nailed on. What could be interesting is the Monetary Policy Committee (MPC) rate count. Analysts are expecting a unanimous 9 to 0 vote in favour of 0.5%. Let's see what happens.

This hike looks to have been priced into the Pound already as rates have tracked generally sideways over the last 24 hours.

However it's not just the interest rate decision out today. There's also the BoE asset purchase facility out, the BoE monetary policy report, a speech by the BoE's Huw Pill and finally a speech by the BoE Governor, Andrew Bailey. What a day.

And if that wasn't enough there's jobless claims out from the US later and the Halifax gives us it's house price data at breakfast tomorrow. Could be an interesting 24 hours.

Today’s Economic Calendar

UK: 12:00 BoE Interest Rate Decision

UK: 12:00 BoE Monetary Policy Report

UK: 12:00 BoE Asset Purchase Facility

UK: 12:00 MPC Vote Count

UK: 12:15 BoE Huw Pill Speech

UK: 12:30 BoE Governor Speech

US: 13:30 Jobless Claims

UK: Friday 07:00 Halifax House Prices

As ever we look forward to keeping you in the loop and look out for our next update.

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