Will GBP Plunge on Monetary Policy Summary?
The Bank of England will publish a monetary policy summary on Thursday, June 16, at 14:00 MT time (GMT+3).
Bank of England’s Statement
Information is not investment advice
What will happen?
The Bank of England will announce its policy statement on December 16, Thursday, at 14:00 GMT+2 (MetaTrader time). It will affect all the pairs with the British pound.
What to expect?
Economists expect that the Bank of England will hold back from tightening monetary policy this time. One of the main reasons is uncertainty over the new omicron variant. The central bank is likely to need more time to assess the effect of omicron on the UK economy, that’s why most of the bank’s members can vote to leave rates at the record low of 0.1%.
What happened last time?
The British pound dropped dramatically after the previous statement of the Bank of England. Traders expected the bank to raise rates, but it didn’t happen.
How to trade on the BoE Statement?
- If the Bank of England raises the rate, the GBP will rocket.
- If the bank leaves the rate unchanged, the GBP will fall.
Check the economic calendar
Instruments to trade: all currency pairs with the GBP
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