5:30am NY Time BOE Inflation Report
ACTION: N/A
Bank of England is going to release its quarterly Inflation report on economic growth and projection for the next 24 months. This report will be release together with a press conference by BOE Governor King along with other members of the MPC.
This quarterly Inflation report usually details BOE’s view over the current economic condition and future monetary policy. With the recent hawkish rhetoric from various BOE officials over the state of UK economy and a rather disappointing prelim GDP release of just 0.1% on the 4th quarter of 2009, there is a possibility for this report to go either way. Therefore, we’ll be watching this report and react should the market sentiment lean towards either buy or sell Sterling.
Since this report will also include BOE future projection and possibly new direction in BOE monetary policy, market will overreact and the effect should last quite a while (may even last days or weeks).
I’ll be trading this report and hopefully we’ll be able to jump in on a trade.
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