News and economic event analysis disclaimer: This fundamental report is not advice or a recommendation to trade or invest, it is educational and general information only. Don’t blindly buy and sell the markets/products discussed in this article, do your own research and be aware of the risks and rewards.
Quick View: Dovish
- 9 members of the Bank of England(BOE) voted to maintain its interest rate in UK at 0.75%.
- Closest date of BOE meeting will be held on 20th June 2019.
- BOE main economic data will be focusing on Consumer Price Index CPI, Gross Domestic Product GDP, and unemployment rate.
- BOE stated that increment in interest rate will be gradually due to fear of BREXIT.
Main Economics Data of BOE
- Gross domestic product in United Kingdom grew 1.8% in Q1 2019, increased from 1.4$ in the previous quarter.
- The unemployment rate in United Kingdom saw a decrease to 3.8% in Q1 2019, the lowest since October till December 1974, below expected of 3.9%.
- Inflation rate in United Kingdom was 1.9% in March 2019, flat with no change in the previous month, as well as below expected of 2.0%.
Expected Bias: GBP Bearish
- The British government and the opposition parties have failed to reach agreement in negotiations and at the same time continue to challenge Prime Minister Theresa May’s position in leadership.
- The United Kingdom’s employment data indicate that pay growth for the quarter end-March is lower than expected.