The pound has been steadily declining throughout the course of this week due to surging UK gas prices. Today, however, focus turns to the Bank of England’s latest monetary policy meeting, which is due to take place at midday today.
After Governor Andrew Bailey revealed that the Monetary Policy Committee were divided on whether to rise interest rates earlier this month, the markets will be looking out for any votes in favour today. This would be the first signal that the Bank’s mentality is shifting.
Any comments about the recent energy crisis and how this may affect the economy moving forward will also be listened out for.
Before the Bank’s meeting, Flash PMI data will be released for the UK, serving as an indicator of how the economy has performed so far in September.
