GBP/USD Super Thursday Event
BOE Interest Rate Decision – May 11, 11:00: The Bank of England will announce their Interest Rate Decision today, with a data packed day from the UK.
Early in the session the GBP/USD suffered from poor data releases that were well below the market consensus for the month of March, which forced the pair to lows around 1.2900.
Currently GBP/USD is under pressure as the markets will look towards the BOE policy decision and inflation report due to be released soon. It’s expected that there will be no interest rate changes, but focus on the minutes and the number of voters in favor for a rate hike.
If the number of voters is more than the last voting round, then the Pound would be supported whilst inflation is steadily above 2% and unemployment is at multi-year lows, which are also supportive factors.
Keep track of the Interest Rate Decision:
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