Bank of England Monetary Policy Summary
The Monetary Policy by the BOE to be Decided by Brexit
Starts Thursday, February 7, 2019 at 12:00
Updated Monday, February 4, 2019
The summary by the Bank of England gets released at the same time as the decision regarding interest rates. The monetary policy summary and the press conference usually take the attention because the decision regarding interest rates is mostly priced in by the time it happens. The Bank of England increased interest rates by 0.25% last month but the economy has softened since then as the economic data has shown. Although, most of the attention from the BOE will be on Brexit. We have heard a few positive comments from politicians recently, which has given the GBP some needed support, but nothing is for certain until everything gets finalized, so let's see what the BOE's opinion is this time.Please follow us for a live coverage in real time of the event by experienced analysts.
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About Bank of England Monetary Policy Summary
The monetary policy summary is one of the main ways that the Bank of England (BOE) communicates with the public. The monetary policy is very important for the currency because, through it, the BOE injects or extracts liquidity into the system, which in turn affects the GBP. The GBP tends to rally when the summary is more hawkish. A more hawkish statement means that the economy is doing well. The BOE is likely to tighten the monetary policy by increasing interest rates or withdrawing money from the financial system. The monetary policy summary also shows the BOE members’ votes on interest rate moves, increasing the importance of this statement.