The Bank of England meets today, Thursday, September 19, 2024, and forecasts indicate that the Bank of England will keep the interest rate unchanged at 5.0% with an expected 7-2 majority, and the two opposing members are likely to be the two members most inclined to monetary easing, namely Dingra and Ramsden.
Traders also put the odds of almost 81% that no change will occur today, so the decision should not be such that it will significantly shake the British pound during today's trading.
The Fed gave the market what it wanted yesterday by cutting the interest rate by 50 basis points, and the consequences have been fairly calm so far.
The dollar fell as a result of the emotional reaction yesterday at the time of the news release, but this did not last long, especially as Treasury yields rose again and this creates at least some mixed moves between the major currencies.
As for stocks, they fell yesterday but US futures are looking to recover today, With the forecast for the end of the week somewhat volatile.
In any case, the fever of central bank meetings does not stop at the Fed this week, But Bank of England is next today, and we await the Bank of Japan tomorrow.
