IronFX, Heads up for Bank of England Interest Rate Decision on Thursday, August 2nd
What to expect?
This article is originally referred from IronFX News.
The BoE is expected to announce its interest rate decision rate tomorrow, at 11:00 (GMT).
BoE is expected to hike rates by 25 basis points (bp), with interest rates reaching +0.75%.
Market is currently pricing in the probability of a 25 bp rate hike by 88.01%, according GBP OIS.
On the financial side the current inflation rate and the low unemployment favour the case of a possible rate hike.
On the other hand a weak GDP growth rate and Brexit uncertainty could be advising caution for the BoE.
A dovish rate hike could be an option for the BoE, where the bank may hike rates as expected, issue though a rather dovish accompanying statement.
Original Source: IronFX News
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