All eyes will be on the Bank of England meeting this Thursday. Will the MPC tilt towards a more aggressive stance this year?
Note the UK economy is underperforming other regions (such as Europe and US). Data released this morning further confirms this view. Therefore, the case for BoE to adopt a more hawkish monetary outlook is not as urgent as, say, the US Federal Reserve. The UK base rate is currently at 0.5%, up 25bps last November.
Technically, GBPEUR is continuing to trade in a range. Sterling’s strength in late January did not lead to further breakouts. The rate is bouncing in between 1.15 and 1.13 for the time being.
Key events: Draghi speech (Mon), Bank of England rate decision (Thurs)
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Jackson has over 15 years experience as a financial analyst. Previously a director of Stockcube Research as head of Investors Intelligence providing market timing advice and research to some of the world largest institutions and hedge funds.
Expertise: Global macroeconomic investment strategy, statistical backtesting, asset allocation, and cross-asset research.
Jackson has a PhD in Finance from Durham University.