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The first Bank of England meeting after Brexit

The Bank of England (BOE) will hold its monthly meeting shortly. They will publish their monetary policy summary and the official bank rate which is the interest rate that the BOE charges/offers to the second level banks. Until a month ago the projections were for an interest hike, although all nine members voted to keep the rates unchanged. 

Somehow the Pound seems uninterested about the upcoming meeting

Now everything has changed though, the Brexit vote has shifted the balances. Now all members are expected to vote for a cut in the interest rates, from 0.50% to 0.25%. That might or might not send the Pound lower. I mean the chances are that it will but depends how much  an interest rate cut is priced in already. Anyway, try to look for clues about further monetary easing in the statement. If there are they will be the biggest mover. 

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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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