Currency Note Sterling

All eyes on UK central bank meeting on Wednesday

By Ricky Bean September 7th, 2015

A lack of significant economic data from the UK on Friday put sterling at the mercy of data released elsewhere. Positive data from both the Eurozone and US caused the UK sterling to drop slightly throughout the day.

This week, key releases begin on Wednesday, with manufacturing production data in the morning. Thursday will be a busier day, with more opportunities for sterling movement, with minutes from the Bank of England (BoE)’s Monetary Policy Committee (MPC) due, as well as the monthly vote on interest rates. Last month saw only one member vote for a rate rise. Given the events in China and their ripple effect on global economies, a shock increase in interest rates is unlikely.