The Bank of England seems poised to lower interest rates later this week, a move anticipated due to recent reports indicating a drop in price pressures.
However, according to our Event Guide for the BOE Policy Decision, this potential cut might already be factored into current market expectations. This means we could see a surprising boost for the Sterling if the BOE members adopt a less dovish stance than expected by the markets.
It’s for these reasons that we’re closely monitoring the GBP/USD and GBP/AUD charts. Should the BOE meeting push the British pound upwards, we could see some intriguing movements there.
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