With the uncertainty surrounding Brexit and now the upcoming elections, Bank of England is expected to leave interest rates unchanged today at 2pm.
The meeting is expected to add an updated inflation forecast, which will be formulated as a monetary policy report. The report will present BoE’s projections for inflation and economic growth over the next 2 years. Mark Carney – BoE chairman will speak at 2:30 p.m.
The decision to hold the interest rate today is estimated at 99% probability, while the cut on December 19 is only 10% at the moment. The chance of reducing interest rates on January 30 is 22%.
Trader Martin Nikolov