The pound is still weaker against the euro and the dollar after the Bank of England’s monetary policy meeting last week but appears to be showing signs of recovery this morning.
Sterling weakened on Thursday evening and Friday morning as investors were expected a more ‘hawkish’ message from the BoE. Although it lifted its inflation forecasts, nothing was said about when interest rates might be hiked.
Bank of England official, Andy Haldane, is due to speak later today and could comment on the outcome of the meeting last week. Governor Andrew Bailey will speak on Thursday.
It’s a busy week ahead for economic data releases for the UK, with house price figures to be released tomorrow, GDP on Wednesday and Manufacturing PMI on Thursday.
