While it is a quiet day for data releases, the Bank of England will announce its latest interest rate and monetary policy report tomorrow at lunch.
In its last meeting, the Bank raised the UK’s interest rate to 2.25%. It also announced a short-term bond-buying scheme to restore market conditions after Kwasi-Kwarteng’s mini-budget. Since Kwarteng’s dismissal, Jeremy hunt and Rishi Sunak have U-turned on the majority of Truss’s economic plans, so markets will be listening closely to the Bank’s decision and any updated policy.
