Please take note that there will be Bank of England (BoE) Minutes on 19 November 2008 09:30 GMT time. This BoE meetings are published 2 weeks after the interest rate decision. Traders/Investors can expect higher volatility for GBP around this time as the meeting will give outlook for the current economy situation.
IF BoE feels the GBP inflation rate is high then BoE might increase the interest rate which is positive for GBP. But, if GBP inflation rate is low then BoE might reduce the interest rate further to improve the current economy condition in England which is negative for GBP.
Wednesday, November 19, 2008
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