04 August 2022
On August 4, the Bank of England makes a report on the matter of the interest rates, it is one of the most important events affecting the quotes of the pound sterling. Inflation is one of it's main predictors. Using these data, a trader can judge the internal and external economic development of the country, which is especially important when trading pairs that include the GBP.
How the further financial picture may develop, our expert tells:
Inflation in the UK is at a 40-year high, which leaves the Bank of England no choice but to aggressively raise interest rates. We expect that today the rate will be increased by 0.5% and the regulator will signal to traders about the need for further rate hikes at the next meetings. On Thursday, consider buying GBPJPY and selling EURGBP, #FTSE100.
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