10 days ago • Posted by Ajmir Omid
BoE's interest decision #gbpusd #rates #trading
The BoE is expected to vote for a 50 basis points increase in just 3 hours (1pm local time), its largest increase for more than 25 years. The decision comes in response to the sticky high inflation rate in the UK. Traders will be trying to read through the lines for clues on future guidance. A more committed hawkish BoE could provide a strong momentum to the GBP, which has depreciated nearly 10% against the USD since the start of the year.