Big day for the bank of england...what will they do...!

Platinum Trading Academy

Good Morning ,

For all of you that trade in the currency markets my first advice would be stay out when in doubt we have a major News event:

 Bank of England Interest Rate Decision 





The market consensus and the Platinum Trading Academy consensus is almost the same.

At Platinum Trading Academy we are expecting the Bank of England to keep the rates on hold as there are growing concerns of a major slowdown in the economy.

Not only this but with our recent article which you can check out here on Brexit i.e. the threat of Britain leaving the European Union any major changes could destabilise the economy.

We expect the voting to be in favour of keeping the interest rates as the current level of 0.5%

We don’t believe the BOE is in any hurry at all to raise any interest rates. Also after our analysts at Platinum have been studying the last 6 months of Fundamental reports it seems like the revision of growth will ease back to 0.4 from 0.6 % .

On a separate note the uk current account deficit rocketed to 32.7 billion or 7% of GDP and with the fear of Brexit looming this would result in reduced inflow of foreign money in to the uk and make the deficit harder to sustain.

At Platinum we do not see any interest rate rises in 2016 and believe unless Obviously Carney decides to hold another dinner date and make a drunk announcement like he did last year in November.

That’s the Platinum Trading Academy news flash as always be very careful if you are trading this event.

Always ensure you use stop losses and never revenge trade.

Have a beautiful trading day

kind regards

Nisha Patel

Live From the Platinum Trading Floor