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What You Need To Know About BOE and ECB

By Naeem AslamMarket OverviewFeb 02, 2023 09:08

uk.investing.com/analysis/what-you-need-to-know-about-boe-and-ecb-200558374

By Naeem Aslam | Feb 02, 2023 09:08

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BOE

As for today’s economic calendar, we have two important economic events unfolding. Firstly, it is the Bank of England’s meeting. The bank is expected to increase the interest rate by 50 basis points. There are two important things to focus on here: firstly, the bank’s take on the interest rate and how long it thinks inflation will take to come close to its target.

Secondly, where is the upper limit of the bank’s interest rate? Market players certainly think this number will be below the 5% mark, and many believe that this number is more likely to be between 4.5% to 4.75%, in line with what the Fed has. But the BOE’s comfort level is nowhere close enough to the Fed, inflation is still immensely stubborn, and recession threats are serious. The bank has a limited choice but to continue to do what it is doing.

However, we expect the bank to define its upper limit of the interest rate today, which may bring relief for market players.

ECB

The second event which is worth talking about today is the ECB meeting, and the bank is also expected to increase the interest rate by 50 basis points. Market players expect a series of these interest rate hikes in the coming months; the bank is more than likely to increase the interest rate by the same magnitude. Traders will pay close attention to the bank’s decision, and they will synthesize every single word.

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Woon soo Lee Feb 04, 2023 0:50

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	Interest Rates	Next Meeting
BOE	4.25%	May 11, 2023
ECB	3.50%	May 04, 2023
FED	5.00%	May 03, 2023
SNB	1.50%	Jun 22, 2023
RBA	3.60%	Apr 04, 2023
BOC	4.50%	Apr 12, 2023
RBNZ	4.75%	May 24, 2023
BOJ	-0.10%	Apr 28, 2023
CBR	7.50%	Apr 28, 2023
RBI	6.50%	Apr 03, 2023
PBOC	3.65%
BCB	13.75%	May 03, 2023

What You Need To Know About BOE and ECB

BOE

ECB

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