The Bank of England publishes its quarterly Monetary Policy Report at 12:00 UTC, placing sterling at the centre of the London session.
What the BOE Monetary Policy Report measures
The Monetary Policy Report sets out the Bank of England’s assessment of UK growth and inflation, alongside the forecasts that underpin its rate decision. Markets read it for the detail behind the headline Bank Rate: the projected path for inflation, the committee’s balance of risks, and how individual members voted.
Because it bundles the policy decision, updated projections and the Governor’s press conference into one event, it ranks among the most closely watched sterling releases on the calendar. No forecast or prior figure applies to the report itself; attention falls on the commentary and projections it contains.
How the sterling pairs are trading
GBP/NOK is the standout mover on our feed, up 0.60% at 12.52365. GBP/USD is firmer by 0.27% at 1.34683, with GBP/JPY up 0.25% at 213.39 and GBP/SGD higher by 0.16% at 1.72257.
The antipodean crosses lean the other way: GBP/AUD is down 0.27% at 1.92242 and GBP/NZD is also off 0.27% at 2.39548. That leaves sterling stronger against the dollar, yen and krone but softer against the Australian and New Zealand dollars heading into the release.
The report is watched for how the Bank frames the path of UK inflation and the reasoning behind its latest rate decision.
Descriptive market news from the ForexBullion Research Team. Not investment advice.
