Good Morning Traders! It is the pivotal day in which we get the BoE Bank Rate.
Here is what to expect:
Sentiment
Even though they held rates unchanged at their meeting last week, Federal Reserve Chair Jerome Powell said policymakers still anticipate that interest rates would need to rise in order to slow US growth and moderate price pressures. For the remainder of 2023, Fed's Bostic sees no need to raise interest rates.
According to those with knowledge of the situation, China has started a new round of nationwide inspections to determine how much money local governments owe. This is an indication that the government is getting ready to take effective action to address a significant financial danger.
As the current Reserve Bank governor Philip Lowe's seven-year tenure is about to expire, Australian Treasurer Jim Chalmers is anticipated to make a choice in July.
The yen's decline to a 15-year low versus the euro and a seven-month low against the dollar has increased interest in the opinions of Japanese authorities on foreign exchange amid growing worries that they would contemplate intervening in the market to support the country's currency.
US inflation wouldn't be any lower today than it is now even if the Federal Reserve had started hiking interest rates nine months sooner.
Docket
03:30 AM ET
Swiss Interest Rate
Median Forecast 1.75% | Prior 1.50% | Range 2.0%/1.5%
04:00 AM ET
Norwegian Key Policy Rate
Median Forecast 3.5% | Prior 3.25% | Range 3.75%/3.5%
07:00 AM ET
BoE Bank Rate
Median Forecast 4.75% | Prior 4.50% | Range 4.75%/4.75%
Speakers
04:00 AM ET
Fed's Waller Speaks
05:15 AM ET
ECB's Panetta Speaks
Good Luck Today Traders!
