GBP/USD: on the eve of the Bank of England meeting _01/08/2016

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The focus of the financial markets this week will be:
- Bank of England's decision on monetary policy, which is published on Thursday (11:00 GMT),
- Data on the labor market in the US in July (the number of new jobs created is with / agricultural sector of the US economy (Non-Farm Payrolls), as well as US data on unemployment).
A significant current account deficit of the United Kingdom and expectations of slowing economic growth in the country's balance of payments in connection with Brexit increase the downside risks to interest rates in the UK at the forthcoming meeting of the Bank of England on Thursday. At the previous meeting, the rate decreased was not contrary to market expectations and hints BOE Mark Carney that the rate will be reduced "this summer." Now the probability of a rate cut on Thursday increased significantly.
It is also expected that they will increase the volume of purchases by the Bank of England assets within
"quantitative easing" for 100 billion pounds to 475 billion pounds.
Earlier, in mid-July, the Bank of England's Andy Haldane representative also spoke about the fact that in August it will be necessary "significant" easing of monetary policy in the UK. The uncertainty of the future prospects of the country’s economy amid Brexit exerts strong pressure on the pound.
The unexpected decision of the Bank of England at the July meeting to keep interest rates in the UK at 0.5% has surprised the financial markets. In a subsequent statement, however, the Bank of England said that "most of the members of the committee expect easing policy in August."
Thus, expectations of «significant» easing of monetary policy in the UK are high.