Libra sterling quotes with caution while investors await the decision on the interest rate of the BOE
The sterling pound (GBP) is quoted with caution in front of its main peers on Thursday, before the monetary policy announcement of the Bank of England (BOE) at 11:00 GMT.
Investors expect the BOE to maintain interest rates by 4.25%, with a majority vote of 7-2. It is expected that the members of the Monetary Policy Committee (MPC) of the BOE, Swati Dhingra and Alan Taylor, support a reduction of rates, since they supported a reduction of interest rates of 50 basic points (BPS) greater than usual in the May policy meeting. Read more…
GBP/USD Forecast: Buyers remain on the saga waiting for the BOE
After closing the day practically unchanged on Wednesday, The GBP/USD backed down and touched its lowest level in approximately one month about 1,3380 in the Asian session on Thursday. Although the PAR managed to recover above 1,3400 in the European morning, he is struggling to attract buyers before the policy ads of the Bank of England (BOE).
The BOE is expected to maintain its interest rate by 4.25% after the reduction of 25 basic points (BPS) announced in May. Since there will be no press conference, the division of votes and language in the policy declaration could influence the valuation of short -term sterling pound. Read more…
The pound recovers as the United Kingdom IPC
The sterling pound has stabilized on Wednesday. In the European session, The GBP/USD quotes 1,3551, with an increase of 0.28% in the day. The US dollar showed a wide strength on Tuesday and the GBP/USD fell 1.05% reaching a minimum of three weeks.
The United Kingdom inflation for May dropped to 3.4% year -on -year, from 3.5% in April, matching market estimation. The factor behind the deceleration were the lowest prices of flights and gasoline. Inflation in services, which has been persistently high, was reduced to 4.7% from 5.4%. Monthly, the CPI gained 0.2%, well below the 1.2% increase in April and coinciding with market estimation. Read more…
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
