In this video, we will be discussing the upcoming monetary policy decision by the Bank of England, which is set to take place on Thursday, May 11th. The consensus among experts is that there will be 25 bps hike. In the meantime, the announcement will be accompanied by the minutes of the meeting and the quarterly Monetary Policy Report.
Thus, if the announcement suggests the potential for further rate hikes to combat inflation, this could lead to a strengthening of the Sterling. However, if the BoE takes a more cautious approach and hints at a possible pause in rate hikes, this could cause the Sterling to weaken.
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