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Bank of England (BoE) Governor Mark Carney is scheduled to deliver his remarks on the monetary policy outlook at 11:30 GMT after the BoE publishes its interest rate decision alongside the Quarterly Inflation Report.

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When is the BOE rate decision and how could it affect GBP/USD?

Against the backdrop of increasing risk of a no-deal Brexit, the UK central bank is expected to maintain status-quo and has little room to sound more hawkish. As Yohay Elam, FXStreet’s own Analyst explains – “By saying that the bank will “act as needed” amid global headwinds and uncertainty, the BOE would align itself with other central banks and avoid criticism in the UK. It would also make sense to respond to the slowdown in the local economy by forecasting lower inflation down the road and abandoning the need for rate hikes.”

BoE: MPC likely to drop their tightening bias – Deutsche Bank.

Deutsche Bank analysts suggest that the Bank of England’s MPC will be making their latest policy decision today, and will also have the release of the Bank’s quarterly inflation report and a press conference from Governor Carney.  

About Mark Carney

Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.