07/05/2020

Sterling boosted by Bank of England meeting


GBP

The early hours of today saw the Bank of England hold off from any further interest rate cuts and further stimulus, meaning rates have been kept steady at 0.1% and no increases have been made to the purchasing programme.

Sterling’s immediate reaction to this has been positive as the bank kept rates unchanged from it’s all time low and left its target for bond-buying at 645 billion pounds.

Despite this, two out of the nine policymakers broke ranks and voted for an increase in its bond buying programme.

May 13th – 12pm BST – Join our live webinar on ‘Managing Currency Exposure during Covid-19’ at https://zoom.us/j/98412333269

Key announcements 

10:00 – GBP – BoE Governor Bailey Speech
13:30 – USD – Initial Jobless Claims (May); expected to fall from 3839k to 3000k
15:00 – EUR – ECB President Lagarde Speech


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