BOE Interest Rate Decision
Tomorrow brings the Bank of England interest rate decision. There is the strong possibility of a rate hike. Personally I do not feel a rate hike is justified. There has been some poor economic data releases that do not fill me with confidence on the UK economy moving forward.
We have seen a drop in average wage growth and also very poor retails sales figures released. Retail sales are expected to pickup following the world Cup. Unemployment is being lauded as the best in decades, but these figures could be slightly misleading as it includes zero hour contracts which is far from a form of stable employment.
It is very difficult to call how the market will react on interest rate decisions. As you would think a rate hike would mean a rise in Sterling value, this is not necessarily the case.
The market moves on rumour as well as fact so there is the chance that the expected hike has already been factored into current levels. The market often moves on Mark Carney’s speech after the decision, where he will discuss monetary policy moving forward.
I think he could well have a dovish tone if there is a hike, expressing a view whereby there will be very little chance of a further hike for the foreseeable future. If this is the case we could see a fall in Sterling value. Be sure to keep this in mind if you are expecting Sterling to shoot up following the decision.
To discuss the upcoming interest rate hike, or following Mark Carney speech feel free to get in touch and I’ll be happy to assist. You can reach me on [email protected].
The post BOE Interest Rate Decision appeared first on Pound Sterling Forecast.
Source: https://www.poundsterlingforecast.com/2018/07/boe-interest-rate-decision/
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).