United Kingdom Official Bank Rate December 16 2021

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    What does the data mean to the market?

    Bank of England (BOE) monetary policy committee members vote on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.

    A higher than expected rate is positive/bullish for the GBP, while a lower than expected rate is negative/bearish for the GBP.

    See the report history here :


    I will use forecasts of:

    Official Bank Bate 0.10%

    Today's trade plan

    Today the official forecast is for the rate to remain at 0.10%, but many economists expected an increase to 0.25%. However Omicron covid variant has cast doubt on that. Therefore I will be looking to take a buy on an increase of 0.25% or more.

    Tradable pairs



    Hope this helps but please do your own analysis!!

    Good luck!!

    James Thatcher

    Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

    1 like
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    BOE Shocks With First Rate Hike Since Crisis to Combat Inflation



    am not sure James had a win on this

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    Today we had a first, a surprise hike to the Bank of England base rate. A hike was anticipated to help curb high inflation; however, with the emergence of the Omicron variant widely reported in the Uk media and government announcement of new restrictions, the markets expected this to be pushed back to the new year. However, it was almost a unanimous vote to act now. Great for us. I banked around 75 pips.

    See Chart here:

    See the video at : http://www.youtube.com/watch?v=qNunKwJ2rsg

    1 like
  4. 82.0k

    nice one

    good luck in future forays

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