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Bank of England Gov Bailey Speaks
Event Date: Thursday, August 6, 2020
Event Time: 11:30 CET
Will the BOE Ease Further on More Lock-Downs?
Updated Tuesday, August 4, 2020
EVENT ENDED
The Governor of the Bank of England Bailey is due to speak during the press conference, following the BOE rate decision. Audience questions are expected, so it will get interesting. Personally, I would be interested in hearing what they have to say because the UK is going through some more regional lock-downs, which should weaken the economy. Will the BOE indicate further actionsin the months ahead? Please follow us for live coverage of this event by experienced market analysts.
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About Bank of England Gov Bailey Speaks
Mark Carney is the Governor of the Bank of England (BOE) from July 2013-June 2021. As head of the BOE, he is the most influential person regarding their monetary policy and, therefore, the value of the currency. In his public speeches and press conferences, Mark Carney often speaks about inflation and economics.
Forex traders try to interpret his comments trying to make out hints regarding the monetary policy. Volatility is expected during his speeches. This is positive for the currency if his comments sound more hawkish than expected.
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The Bank of England Gov Mark Carney is due to hold a press conference in London. The GBP/USD is trading sideways below a strong resistance level of $1.3090.
The agenda of speech is unclear, however, considering the ongoing trade tensions, uncertainties over Brexit and global economic slowdown, the Mark Carney is expected to speak about economic expectations.
The speech begins, initial remarks:
Derivative market will keep operating without getting impact from Brexit.
CFTC (Commodity Futures Trading Commission) and FCA (Financial Conduct Authority) will ensure smooth trading in derivative trading no matter what happens with Brexit.
The GBP/USD is steady at $1.3081, adding just +0.0030 and +0.23% throughout the day. No major move is seen over Mark Carney speech.
So far, there nothing related to monetary policy here.
Most of the focus is on the measures taken or to be taken to ensure continued derivatives trading after Brexit.
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