The BoE Rate Decision will be released in an hour

The BoE Rate Decision will be released in an hour

The Bank of England will announce its rate decision. The market expects the BoE hikes interest rates by 25 basis points and doubles the benchmark UK Bank Rate to 0.5%. This is the first time in more than 10 years due to the recent surge in inflation. Note though that no change is expected in either the bank’s £435 billion government bond-buying or its £10 billion corporate bond purchases. We will also receive the BoE’s quarterly Inflation Report.

The Governor Mark Carney will hold a news conference half an hour after the announcement, We might see some fluctuation in GBPUSD pair after the rate decision.

02 Nov 17 (Thu)

10:59 am



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