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Bank of England (BoE) Governor Mark Carney is scheduled to deliver his remarks on the monetary policy outlook at 12:30 GMT, 30 minutes after the BoE publishes its interest rate decision alongside the Quarterly Inflation Report.

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BOE: Expect a dovish meeting with a 25bp cut – Deutsche Bank.

Moving on, and next up in the central bank queue today is the BoE, in what should hopefully be a more interesting decision and is also Governor Carney’s last MPC meeting at the helm. The market is pricing in a 46% chance of a cut, though at one stage earlier this month we were pricing in just over a 70% chance before last week’s better than expected PMIs. 

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

Amid bleak economic growth prospects and inflation well under the central bank’s 3% target, Carney and his company could very well hint that the next move in the rates could be downward. Also, Carney’s take on the post-Brexit trade deals and China’s coronavirus outbreak will be closely heard.

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. This will be his last Super Thursday as the BoE Governor, as his mandate will finish at the end of the year. His successor as head of the Bank of England has not been announced yet.

Inflation Report Press Conference, November 2019