The pound has weakened slightly this morning but is still at strong levels ahead of the Bank of England’s monetary policy meeting, which is due to take place at midday today. The markets will be looking out for any decisions or comments surrounding negative interest rates. Such a rate cut has never been made in the UK before, so it could have a significant impact.
After Governor Andrew Bailey’s comments earlier this year which pushed back on the prospect of negative rates, sterling has been well supported. Any comment that counteracts this today could have an impact on the pound. Bailey is due to make a speech at 12:30 today.
A new trial in the UK is going to look at whether two COVID-19 vaccines can be mixed. If successful, this will give more flexibility to the vaccine rollout in the UK and worldwide.
