GB Bank of England Interest Rates


Fx News Spike Signals by Crazy Cat, 2020/01/30

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 61 estimates, and 17 economists expect a cut from 0.75% to 0.50% while 44 economists expect no change in interest rates this time. The median estimate is 0.75% and the average estimate is 0.68%. One standard deviation is 0.11%.

If they cut to 0.50% or lower ( -0.25 deviation in this case), it should be a good sell signal on GBP/USD.

If they don't change the rates this month (0.00 deviation in this case), I would stay away. The price might go up but considering Brexit and other issues, this might be very unpredictable. No trade for me.

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

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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