Today is “Super Thursday” for the Bank of England. Following a string of disappointing data, combined with Carney’s dovish remarks, the Bank is now expected to stay on hold. Investors will be eager to find out whether officials remain willing to act later this year or not. Overnight, the RBNZ kept rates unchanged as was expected, but turned more dovish than previously, pushing NZD lower.
GBP-Traders on the Edge of Their Seats, Awaiting for the BoE
The pound traded mixed against its G10 counterparts on Wednesday. It gained the most against NZD, JPY and CHF in that order, while it fell versus SEK, NOK and CAD. The pound traded virtually unchanged against AUD.
Today is “Super Thursday” for the Bank of England. The Bank decides on monetary policy, but besides the rate decision and the meeting minutes, we will also get the Quarterly Inflation Report and a press conference by Governor Mark Carney.
At its latest meeting, the Bank decided to keep interest rates unchanged as was widely expected, but the ultra-hawks, McCafferty and Saunders, decided to vote for a hike. What’s more, around a month ago the market was almost certain that...
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