Heads Up, Bank of England Announcement Today.
This article is originally referred from Fortrade News.
Why the Bank of England Might Send Up the British Pound.
The Bank of England Monetary Policy Committee (MPC) meeting, scheduled for Thursday, May 11 at 11:00 (GMT), is nearly certain to keep interest rates at their rock bottom level of 0.25%.
The aftermath of the Brexit vote seems to be finally feeding through to Britain’s economic growth, according to business surveys that show rising inflation is partially offset by slower-than-expected consumer sales.
If the central bank raises interest rate in a surprise move, this is seen as bullish for the Pound Sterling to US Dollar (GBP/USD), and will likely result in a sharp increase in the currency pair.
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Original Source: Fortrade News