7:00am (NY Time) UK Interest Rate Decision Forecast 0.50% Previous 0.50%
BOE is scheduled to release its interest rate decision today, it is expected that the Bank of England will keep the current rate unchanged at 0.50%. However, there are concerns of possible ending of BOE’s Quantitative Easing policy, or at very least a gradual unwinding of this policy. If this were to be confirmed with the accompanied rate statement, we could see some renewed demand for Sterling as it is an extremely bullish sign for the currency.
This is a positive 20 pips trade with market context method.