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November 1, 2018

Head of Bank of England controls short term UK Interest Rates

Today’s Key Events – Thursday 1 November.

These are the releases that often drive significant movements for currencies, indices, commodities and more.

Stay up to date with the events that move the trading needle.

All times are GMT+2.
Time Symbol Name Prediction Last result
14:00 GBP (£) BoE Interest Rate Decision 0.75% 0.75%

BoE Interest Rate Decision is announced by the Bank of England.

If the BoE is hawkish about the inflationary outlook of the economy and raises the interest rates it is positive, or bullish, for the GBP.

Likewise, if the BoE has a dovish view on the UK economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.

List of Promotions

Time Symbol Name Prediction Last result
14:30 GBP (£) BOE’s Governor Carney speech

Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority.

As head of the central bank, which controls short term interest rates, he has more influence over the nation’s currency value than any other person.

Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.

Time Symbol Name Prediction Last result
16:00 USD ($) ISM Manufacturing PMI (Oct) 59.0 59.8

The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector.

It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy.

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