Here is the digest with the most interesting news for today
The BOE: one more interest rate increase?
Information is not investment advice
What will happen?
The Bank of England will make a monetary policy statement on February 3, at 14:00 GMT+2. As usual, it will contain an update on the interest rate and provide monetary policy insights.
Why is it important?
Last month Britain’s central bank became the first major regulator to increase interest rates since the pandemic began. On Wednesday, January 19, the Office of National Statistics reported that inflation once again got higher than expected and hit 30-year highs. That’s why experts believe that BOE might increase the key rate again at the upcoming meeting.
How to trade on the BOE Interest Rate Decision?
To trade on the event, you need to wait for the livestream on the official BOE website and follow the updates.
- If the BOE is hawkish, the GBP will strengthen;
- If the BOE is dovish, the GBP will weaken.
Instruments to trade: EUR/GBP, GBP/USD, GBP/CAD
Markets never sleep! Let’s be prepared for a beautiful trading experience by looking at the most important news of Tuesday!
The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
The most impactful releases of this week will fill the market with volatility and sharp movements.
Happy Tuesday, dear traders! Here’s what we follow:
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.