What is it? When there is a change in rates the MPC will also issue a statement. The rate decision is often priced in the market so it tends to be overshadowed by the MPC Rate Statement which is focused on the future. Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future;
MPC members vote on where to set the rate. The individual votes are published 2 weeks later in the MPC Meeting Minutes.
When? At 7:00am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the GBP to rise.
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