Pound Sterling Forecast – Bank of England Decision today
How will the pound react today?
The Bank of England hold their latest interest rate decision at midday today, 12pm UK time. No change in interest rate policy is expected, but such events do have the power to move markets and are worth being aware if considering any sterling trades in the coming days, weeks and months.
Sterling has recently been trading at strong levels against many currencies including the Euro, Australian dollar, New Zealand dollar, Canadian dollar and more. Today’s news could easily change the picture, depending on how the MPC – Monetary Policy Committee opts to vote.
Comprised of nine members, it is their majority decision that will stand. Any indications of calls by a member to be considering cuts could weaken the pound. At December’s meeting, six members voted to hold, three voted to raise.
The economic picture has changed since the last meeting on the 14th December. Will we see a vote for a cut because of fears of economic growth, possibly leading to a weaker pound. Or will the higher Inflation number see talk of any cuts dismissed, likely leading to a stronger pound?
All shall be revealed at midday, with Governor Bailey giving a Press Conference after at 12.30 with his latest inflation and growth forecasts.
This is arguably the most important data point so far this year, and could throw up some real volatility for sterling throughout the day.
Today’s news has real potential to ignite some volatility on the pound, and upset or extend the trends so far of 2024. For a more detailed chat tailored to you and your specific situation, please reach out to our specialists today.
You can contact me jonathan Watson on jonathan.watson@lumonpay.com
Source: https://www.poundsterlingforecast.com/2024/02/pound-sterling-forecast-bank-of-england-decision-today/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).