The FED decided to leave their base rate at 5.25% yesterday evening. Whilst they didn't rule out further hikes in the future, their predictions are for the rate to drop in line with curbed inflation in the years to come.
This meant it was a storm in a teacup for GBP/USD rates which remain in an upward pattern for now for the Pound.
GBP/EUR stays fixed at the year highs for the moment. However the ECB publishes its interest rate decision just after lunch, so that could put the cat amongst the pigeons in the afternoon. Analysts are expecting the ECB to hike the rate by 25 points (0.25%) to 3.5%. This is followed by a press conference 30 minutes later.
Around the same time there's US retail sales numbers out, so it could be a bumpy afternoon.
In the early hours of tomorrow the Bank of Japan releases its interest rate decision. The expectation is for no change at negative -0.1%.
EUR: 13:15 ECB Interest Rate Decision
US: 13:30 Retail Sales
EUR: 13:45 ECB Press Conference
JPN: Friday BoJ Interest Rate Decision
As ever we look forward to keeping you in the loop and look out for our next update.
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