This week the Bank of England will announce it latest Official Bank Rate decision. In what has become known as Super Thursday, the Bank of England will deluge investors with a wealth of data.
The releases not only include the decision on the Official Bank Rate but will include the all-important Bank of England Inflation Report and Monetary Policy Statement.
The official MPC Bank Rate Votes will add some further insight on how the individual members of the committee are biased to the dovish or hawkish side of the interest rate increase debate and if the voting indicates a weakening or strengthening of this bias.
The Bank of England Governor, Mr. Mark Carney will round off what is a busy day when he holds a press conference to discuss the Inflation Report.
In his last major press engagement, the Mr. Carney, effectively told the markets that an interest rate increase was off the agenda for 2016.
The reason for Mr. Carney’s reticence to move on interest rates is due to a combination of mixed domestic data, external risks originating from the Euro-Area and the Far East and the collapse of commodity prices.
What was not mentioned was the fears that the United Kingdom could leave the European Union. This is due to a potential victory by the 'No' campaign which is urging the British electorate to vote for an exit at the forthcoming referendum. Such a result will have far reaching repercussion for the United Kingdom as it will once again reignite the discussion over Scottish Independence.
With so many economic and political factors to juggle with, it is not a surprise that Mr. Carney and his colleagues on the MPC have leaned on the side of caution and held back on increasing rates now.