Heads Up: BOE Monetary Policy Decision Due At 0600 GMT

Published date: .


This compares to the normal announcement timing at 1100 GMT. The decision today will be announced at 0600 GMT instead, with BOE governor Bailey's press conference will be scheduled for 1130 GMT later today.

The BOE is expected to leave the bank rate unchanged at 0.10% and pretty much stand pat at this meeting. The only thing to be mindful about is potentially any mention of negative rates - which is highly unlikely to materialise.

The UK government's furlough program is still masking the underlying conditions plaguing the domestic economy in recent months and the BOE has to wait to see the true effects before committing to any further stimulus at this stage.

Despite some parts of the gilt curve anticipating some skew towards negative rates, I would expect the BOE to still play coy on that and not give a firm bias today.

As such, the odds are this will be a non-event for the pound for the most part.

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