What to expect from Bank Of England this week

On Thursday, six weeks after Bank Of England raised its default rate to 0.75%, central bankers will meet again to decide on island interest rates. Considering the fluctuation in economic performance over the 6 weeks in question, I expect BOE to keep the monetary policy parameters unchanged. Investors will focus on whether the Central Bank will really extend Marc Carney's mandate as BOE manager for Brexit and his unclear outcome.

BOE's longstanding position on Brexit does not include extreme and destructive results for the economy. We expect BOE to update this position in our monetary policy report, which we expect in November. If the assumption of the November summit is confirmed, the Bank's next forecast will continue to be based on the expected average score. Accordingly, the press conference in November will lose some of its interest, focusing on the communique after the summit and the regular BOE meeting on 20 December to reach the likelihood of a more significant change in monetary policy in 2019.

Source: FxLive

Photo: Pixabay.com

Read more:

• USA ADP Nonfarm Employment Change: 202K vs 160K
• Iran response was ‘too fast and too furious’ on the U.S. airstrike
• USA – ISM Non-manufacturing PMI: 55.0 vs 54.5
• Top 5 things to watch on Tuesday
• Noise: How to Overcome the High, Hidden Cost of Inconsistent Decision Making