Don’t waste your time – keep track of how NFP affects the US dollar!

Data Collection Notice

We maintain a record of your data to run this website. By clicking the button, you agree to our Privacy Policy.

facebook logo with graphic

Join Us on Facebook

Stay on top of company updates, trading news, and so much more!

Thanks, I already follow your page!
forex book graphic

Beginner Forex Book

Your ultimate guide through the world of trading.

Get Forex Book

Check Your Inbox!

In our email, you will find the Forex 101 book. Just tap the button to get it!

FBS Mobile Personal Area

market's logo FREE - On the App Store

Get

Risk warning: ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage.

79% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider.

You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.

Bank of England Statement: What to Expect

Bank of England Statement: What to Expect

Information is not investment advice

What will happen?

The Bank of England will publish its Monetary Policy Report and Summary, Official Bank Rate, and its votes on May 5 at 14:00 MT. The report contains the inflation forecast and economic growth over the next two years. The head of the BoE will also hold a press conference to discuss the report’s contents after its release. It provides valuable insights into the bank’s views on economic conditions and inflation, which are key factors that will determine the future of monetary policy and influence interest rate decisions. This monthly releases has a direct impact on GBP.

Possible GBP movements

Lately, the Bank of England said it would consider selling the securities back to the market once the bank rate hits 1%. Now the interest rate is 0.75%. However, poor market liquidity and heightened volatility suggest that the committee is likely to hold off for now and wait for conditions to improve before jumping into active selling.

The geopolitical crisis impacts the UK immensely with high commodities prices and the consumer price inflation rate of 7%, the highest of the last 30 years. It increased the pressure on Prime Minister Boris Johnson and his finance minister, Rishi Sunak, to lower the cost-of-living level.

The previous release was on March 17. The BoE policy was rather dovish. Right after the release, the GBPUSD fell 1150 points.

Picture2.png

How to trade on the UK Official Bank Rate release?

The higher the “Actual” rate relative to the “Forecast”, the better for the currency.

Financial analytics suppose that the Bank of England will raise interest rates to 1% from 0.75% on May 5 and then bring them to 2%-2.25% by the end of 2022. Although, many economists expect the rate to be less aggressive.

Samuel Tombs, chief economist at Pantheon Macroeconomics in the UK, forecasts inflation to reach 8.8% in April after utility bills skyrocket but then fall below the Bank of England's target of 2% in the second half of next year.

Check the Economic Calendar

Instruments to trade: GBPUSD, EURGBP, GBPCAD, GBPJPY.

Similar

Is Inflation Defeated?

Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.

Who Will Rule the US?

The week will have the biggest event in the US political process over the last two years. How will the elections affect the Forex market? We covered the most important news of this week in this report.

Popular

Soon Bullish Rally for Gold ?

The winter is coming, and risky markets expect a rally to come with it. Will this December be bullish for stocks, crypto, and gold? A pack of news will surely help you out.

Choose your payment system

Feel the Team Spirit

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later