GB Bank of England Interest Rates


Fx News Spike Signals by Crazy Cat, 2019/05/02

Report name: GB Interest Rate Statement
Release Time: 07:00 New York time (EST)
Primary currency pair: GBP/USD
Forecast: 0.75
Prior: 0.75
LT1 (Lower Trigger 1): -0.25 [SELL] (means a 25 bp cut)
UT1 (Upper Trigger 1): +0.25 [BUY] (means a 25 bp hike)
Safety: 1

There are 62 estimates, and all 62 economists expect no change in interest rates this time. The median estimate is 0.75% and the average estimate is 0.75%. One standard deviation is 0.00%.

If they cut to 0.50% or lower ( -0.25 deviation in this case), it would be a great sell signal on GBP/USD but this scenario will not happen.

If they don't change the rates this month (0.00 deviation in this case), I would stay away. Everyone expects it to happen and the price already reflects it.

If they hike the rates from 0.75% to 1.00% (+0.25 deviation), then, of course, it would be a great opportunity to buy GBP/USD but this is not likely to happen.

Basically, 99.9% chance it will be a no-trade so you may skip this report if you don't have time to trade it.

As always with interest rates, be careful and don't enter big trade sizes. It's always better to miss a good trading opportunity or make a bit less than wipe out your account in case it doesn't work as expected.

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