Just before lunch today the Bank of England will release its interest rate decision. Prior to the inflation number out yesterday it was expected to be a nailed on 0.25% hike to 5.5%. Whilst its still expected to happen eyes will be on the vote count. With 9 members of the monetary policy committee this number should give some indication if we've hit the top. Investors are now taking a 50/50 stance on the hike happening or not so it's coin toss day.
Last night the FED gave us its forecast for interest rates in the future in the US. Their indication was a gradual decline from here. This could also pave the way for the BoE.
Pound rates took a hammering on the back of the inflation number yesterday, so maybe we will see a recovery through the course of today.
GBP/EUR could come under further scrutiny later in the day with a key speech by the ECB President, Christine Lagarde.
Going into tomorrow the news continues. The Bank of Japan is expected to keep its interest rate at -0.1% and the UK releases its retail sales number where monthly growth of 0.5% is predicted.
UK: 12:00 Bank of England Interest Rate Decision
UK: 12:00 MPC Vote Count
UK: 12:00 Monetary Policy Summary
EUR: 15:00 ECB's Christine Lagarde Speech
JPN: Friday BoJ Interest Rate Decision
UK: Friday 07:00 Retail Sales
As ever we look forward to looking after you and please keep an eye out for our next Insight.
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