United Kingdom Interest Rate
The interest rates have increased over the last year and further rate hikes are expected.
This meeting is forecast to be a rate hold event however during Bank of England Governor Mark Carney’s speech look for signs of a hike during the December meeting of the Monetary Policy Committee.
Trend Break Zone
- Low risk entry at 143.45
- High risk entry at 142.90
Fundamental and Geopolitical Analysis
The focus of the Bank of England is to maintain 2 percent inflation.
- Inflation is at 2.4 percent indicating further hikes necessary
- Political uncertainty over decision to leave EU continues to hinder the pound
- No events of interest in run up to Interest Rate decision
- Bearish sentiment since May met with 1922 Committee on Tuesday
- News reports the meeting was warm and may have softened the critics
I am satisfied that the analysis indicates it is a suitable time to order.
Image credits: Aron Van de Pol