Updated: Watch the new £10 note, featuring Jane Austen, being unveiled at Winchester Cathedral on 18 July 2017.
The Bank of England governor Mark Carney is expected to give a press conference following the meeting of the Bank of England’s committee decision at 12h GMT. Forecasts indicate that rates will remain unchanged and will continue at historic low in 0.25%. So the attention will turn to the tone used by BOE’s governor in his statement and the implications of the new political stage mainly affected by Brexit negotiations.
Key notes
BOE Preview: What to expect of GBP/USD?
It’s BOE ‘Super Thursday’ today, the first one for 2017, with markets unanimously expecting that the BOE will make no change to its monetary policy setting. The British central bank is expected to maintain its refi rate at a historic low of 0.25% and asset purchase target at GBP 435 bn. In accompaniment to the BOE policy decision, we will also have its minutes, which is expected to offer no new surprises and hence, the main risk event for the pound is expected to be the BOE Quarterly Inflation Report (QIR).
Last Interest Rate change from the Bank of England was on August 4th 2016. At the same time, the BOE authorised the purchase of up to £10 billion of UK corporate bonds; and an expansion of the asset purchase scheme for UK government bonds of £60 billion, taking the total stock of these asset purchases to £435 billion.
| CentralBank | CurrentInterestRate | NextMeeting | LastChange |
|---|---|---|---|
| Bank of England | 0.25 % | Feb 2, 12:00 GMT | Aug 4, 11:00 GMT |
About Mark Carney
Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.
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