The Monetary Policy Committee of the Bank of England (BoE) will announce its last interest rate decision and inflation report for the year on Thursday.

Chances of a rate hike are very slim, yet nonetheless it is clear the pound will likely remain volatile in the day before and the day after the policy meeting.

According to the consensus forecast, the Bank of England’s policy rate will remain the same as it was last month, at 25 basis points (0.25%). In the extremely unlikely event the BoE cuts rates to 0.00%, GBP/USD will almost for sure see a massive spike.

Bank of England Super Thursday – Interest Rate Decision and Inflation Report, Thursday, December 15th at 12:30 GMT.

What is ‘Super Thursday‘?

The Bank of England Monetary Policy Committee interest-setting decisions and inflation reports are typically announced on the first or second Thursday of each month at 11:00 GMT.

Minutes of the MPC meetings are published simultaneously with the decision and are followed by a widely-covered press conference.

The decisions made during this event influence the pound sterling’s exchange rates and shed light on the central bank’s monetary policy and stimulus measures.

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