Market insights

It's The Big One - MI200624

Early lunch sees the Bank of England announce its interest rate decision.

Analysts think no change is nailed on. This will leave the base rate at 5.25%.

However it's the monetary policy committees vote count that could be more interesting.

The consensus is that 7 members will vote for no change and 2 will vote for a cut.

If this is more towards a cut it could be significant for Sterling rates.

And that's not the only big news for the Pound.

There's a consumer confidence reading just after midnight, and breakfast tomorrow sees the UK's retail sales number reported.

So it's all eyes on the Pound for the next 24 hours.

Business news is dominated by inflation and interest rate news. However there's also a headline around a bit of tit for tat between China and Europe where the Eurozone is suggesting a 25% levy on Chinese electric vehicles which is being demanded in return by said EV manufacturers.

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Economic calendar

UK: 12:00 BoE Interest Rate Decision

UK: 12:00 MPC Vote Count

UK: Friday 00:01 Gfk Consumer Confidence

UK: Friday 07:00 Retail Sales

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

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