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).
Will the BOC Surprise Markets with Monetary Policy Report?
Information is not investment advice
What will happen?
The BOC will report its Monetary Policy on Wednesday, April 13, at 17:00 MT (GMT+3).
The statement provides valuable insight into the bank's view of economic conditions and inflation which are the key factors influencing monetary policy and interest rate decisions.
Last time, the BOC increased the key rate to 0.5%. As a result, USDCAD lost 600 points within 14 hours.
How to trade on the BOC Monetary Policy report?
- If the report is more hawkish than forecasted, the CAD will likely strengthen against other currencies.
- If the report is more dovish than forecasted, the CAD will likely weaken against other currencies.
Instruments to trade: CADJPY, USDCAD, CADCHF.
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