Are we naively overlooking the BoE meeting this month?

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Brexit the priority but BoE may offer some surprises

When you’re in the middle of the Brexit bubble, it can be easy to forget that there are other things going on – a Bank of England meeting, for example, that once upon a time would have been the headline act, for those in the UK anyway.

This was particularly true once every quarter when the central bank would release its new economic forecasts and offer an update on its expectations for interest rates, growth and inflation. The press conference would follow and Governor Mark Carney and his colleagues would field questions from the media keen to pick holes in their assumptions and projections.

All of this would typically trigger above normal levels of volatility in the pound and play a big role in the direction of it over the months ahead.

Well this is actually one of those months and on Thursday, Carney and his colleagues will gather to go through this process. The only difference is that no one is talking about it and the only headlines it’s likely to make is those that relate to Brexit, or more accurately the Bank’s pessimistic view of it. Or project fear, as they’ve repeatedly being accused of being party to.

For those of us that are still interested in what the central bank has to say, even if its views on the outlook are subject to significant revisions pending the outcome of the Brexit negotiations, Thursday could still be quite interesting.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years’ experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.

Craig Erlam

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