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GBP/USD not taking any chances with BOE decision today
In less than an hour from now the Bank of England will reveal their latest monetary policy decision, at 12pm GMT. Now, whilst this is almost a foregone conclusion; that the BOE will keep the current 5.25% base rate on hold, it is never 100% guaranteed. This is surely well demonstrated by the surprise we got earlier today from the Swiss National Bank. That said, if the BOE were to cut rates today it would surely smack of a political reason for doing so and that is something the Bank would seriously not want to be accused of. However, it is probably the nature of no change today that might matter most of all. That covers the voting split (expected 7-2 in favour of no change) and any accompanying statement on the rate path outlook. Nevertheless, ahead of this the Pound appears to be wary of a dovish surprise because it is right now on session lows, currently trading at 1.2763
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