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).
UK Inflation Rate Will Impact GBP
Information is not investment advice
What will happen?
The United Kingdom will publish the Inflation Rate on November 17, at 09:00 MT (GMT+2). It’s a significant indicator that reveals the change in the price of goods and services purchased by consumers during the previous month.
Why is it important?
The Bank of England will decide whether to raise the interest rate or not based on the inflation figures. These changes in the interest rate, in turn, impact the value of the British pound.
If you want to know more, read the article “How to trade on central bank decisions”.
Last time, the UK inflation figures were worse than expected. As a result, GBP/USD dropped by 225 points in one hour after the release.
How to trade on the UK Inflation Rate?
Compare the actual UK Inflation Rate with the forecast, which appears a few days before the report in the economic calendar.
- If the Inflation Rate is greater than the forecasts, the GBP will surge.
- Otherwise – fall.
Instruments to trade: GBP/USD, GBP/JPY, EUR/GBP
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