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Will last week’s set of upbeat data be enough to keep the BOE on hold this week? Here’s what’s expected for the top-tier event.

BOE monetary policy decision (Jan. 30, 12:00 pm GMT)

  • No actual changes to interest rates at 0.75% or asset purchases expected
  • MPC minutes to indicate that two members dissented and voted to cut
  • Recent jobs data has been strong but CPI and retail sales have disappointed
  • Updated BOE Monetary Policy Report also due, featuring estimates for growth and inflation for the next two years
  • Last monetary policy decision headed by Governor Carney before he is replaced by Andrew Bailey

Technical snapshot

  • Stochastic paints a mixed picture for GBP pairs, with sterling oversold against the Aussie and the euro.
GBP Stochastic from MarketMilk
GBP Stochastic from MarketMilk
GBP Moving Averages from MarketMilk
GBP Moving Averages from MarketMilk

Missed last week’s price action? Read GBP’s price recap for January 20 – 24!