Live Coverage: Bank of England may provide more certainty after budget, US elections, GBP/USD to rock

Yohay Elam FXStreet

Super Thursday is here – apart from an expected 25bps cut, the Bank of England publishes fresh forecasts. These follow the ambitious UK budget and the consequential US elections. Will Governor Andrew Bailey and his colleagues signal many more cuts? Live coverage.

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Bank of England has fewer excuses not to rock the boat

The Bank of England (BoE) is set to slash borrowing costs by 25 bps, its second cut in this cycle. Investors will be watching the voting pattern among members of the Monetary Policy Committee (MPC), with a broad majority expected in favor of the move.

What makes this BoE decision a "Super Thursday" is the publication of the Monetary Policy Report (MPR). The bank's quarterly document includes forecasts for growth and inflation, and is famous for its "fan charts" – a range of outcomes. Will this range narrow now?

Britain's new Labour government released its budget plans, which included borrowing, taxes, and investment. How does it impact future policy? Any clarity would rock GBP/USD.

Moreover, Governor Andrew Bailey will meet the press, and will sure be asked about the implications of Donald Trump's reelection as US President. While he will likely dodge such questions, American policies impact the British economy – and the BoE.

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Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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