Edward Culchenko
On April 20th at 8:30GMT the Bank of England released the MPC Meeting Minutes report
Previous voting results: 3-0-6; Forecast: 3-0-6
MPC Meeting Minutes reveal the MPC’s interest rate decision made through voting. The focus is on the distribution of votes. The current format is the following: for increasing the interest rate – against increasing – for maintaining the rate at the same level.
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The commentaries that follow the voting results provide a thorough analysis and explanation of economic reasons that influenced the voters. Moreover, there are some hints at the possible results of the next voting.
Traditionally, they started including in the document the distribution of votes concerning the BoE’s secondary-market asset purchases.
The news release is of high importance to Forex traders.
Those investors who monitor the news pay attention mainly to the general tone of the report. A positive mood usually strengthens the British Pound.
The data are published on a monthly basis, approximately in 2 weeks after the Official Bank Rate release.
Edward Culchenko
