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Wednesday August 8th
Being a market mover, the Quarterly Inflation Report for the Bank of England is cultivating expectation in investors.
Wednesday at 5:30am EST the Report will be released.
Sir Mervyn King and the BOE are under the spot light. With London Olympics, Sir Mervyn King predicts a boost in the UK’s economy and 2% inflation by the end of the year.
Inflation has been lowering already in the United Kingdom. Last September it peaked to 5.2% and in June it was at 2.4%.
In the Quarterly Report, we’ll find the Bank of England’s (BOE) projection for the economic growth of the next two years.
At the press conference, the Governor of the BOE will discuss the report released.
If your a GBP trader, brace yourself for some market volatility as he speaks.
One of the contributing factors to the lowering inflation rate in the UK is that the oil price has dropped about $15 from earlier this year.
Keep a close eye on this report as it projects for inflation and economic growth in the UK over the next two years. [/column]
Written BY: Tony College
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