The Bank of England (BOE) plays a major role in the trading of currencies. Learn more about the UK’s central bank, and how to trade BOE interest rate decisions.
For traders, the BOE’s setting of monetary policy is a key factor to consider as it can have a big impact on the financial markets. Other factors, like the independence of the central bank are also important but are more prevalent issues in emerging market economies.According to the Bank of England, their two core purposes or mandates are:Monetary policy is extremely important for the entire economy.
This is the general principle for how interest rates affect the Pound and stock market, although they sometimes react differently:Interest rates aren’t the only monetary policy tool that can affect the currency, tools like quantitative easing can also lead to increases and decreases in the value of a currency.
People invest their money into the economy because they can earn more in these assets than at currently low interest rates. Rising inflation does not mean the Bank of England will increase interest rates, it depends on the balance between economic growth and inflation.to keep an eye on all the important economic data releases, including central bank speeches and interest rate data. Don’t forget to bookmark our Central Bank Rates Calendar so you can prepare for regular announcements.
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