The Bank of England announces its decision on Thursday 5 November at 12:00 GMT, with Governor Bailey speaking at 12:30. A 25 basis point hike to 4.00 percent is the expected outcome, and a 7-0-2 vote split (hike, hold, cut) is the forecast cited by Capital Street FX.
Sterling ended last week at 1.33869 against the dollar, up 0.12 percent, after trading between 1.32724 and 1.34339, per the same weekly close data.
Why the vote count matters
When the rate move is widely anticipated, the market looks for what is new: the number of members voting for a bigger or smaller move, the language on inflation persistence, and any signal on the path ahead. A split that is more hawkish or more dovish than forecast can move the pound even if the headline decision matches expectations.
Other items in the week
- Tuesday: US midterm elections.
- Wednesday 10:00 GMT: euro area flash October CPI, forecast at 4.0 percent from 3.8 percent.
- Thursday 18:00 GMT: ECB President Lagarde speaks.
Expect wider spreads around the announcement and press conference. See trading around high-impact news events. Market commentary only; not a trade recommendation.