
The Bank of England will publish a monetary policy summary on Thursday, June 16, at 14:00 MT time (GMT+3).
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The Bank of England will release its statement and announce its monetary policy decision on June 24 at 14:00 MT. Last time, the Bank of England kept its monetary policy unchanged, and slowed down the pace of asset purchases, indicating it is on the way to end emergency support later this year. Besides, the central bank lifted the 2021 GDP forecast to 7.25 % from the previous 5 % growth.
However, the UK delayed the lockdown easing, and this fact can negatively influence both the consumer and business confidence. Beyond the virus problem, the British economy has another headwind: EU-UK trade tensions centered on Northern Ireland. Thus, the central bank may avoid any hawkish moves this time.
The market reaction depends on the Bank of England’s economic outlook. If the Bank of England gives positive projections on the UK economy and/or hints soon policy tightening, the GBP will strengthen. If the central bank expresses some concerns, the GBP will weaken.
Instruments to trade: GBP/USD, GBP/JPY, EUR/GBP
The Bank of England will publish a monetary policy summary on Thursday, June 16, at 14:00 MT time (GMT+3).
The Federal Reserve will make a statement regarding the future monetary policy on Wednesday, June 15, at 21:00 MT time (GMT+3).
The US PPI will come out on Thursday, May 12, at 15:30 MT time.
The governor of the Bank of England, Andrew Bailey, will hold a speech on June 29 at 15:30 MT time (GMT+3).
The US Markit will publish Flash Manufacturing and Flash Services PMIs (purchasing managers' indices) on June 23 at 16:45 GMT+3.
The Fed Chair Jerome Powell will testify on the Semi-Annual Monetary Policy Report before the House Financial Services Committee on June 22-23 at 17:00 GMT+3.
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