Finally the economic event we have been waiting for all week and the big hitter that will promise volatility in this market. We expect to see lower prices in the GBP although before the rate announcement this could mean higher prices before the event. Now the issues concerning the UK are the higher number of unemployed and people due to be unemployed as commercial airliners consider letting go of staff as well as banks within the city of London.
Several branches in the banking sector have closed and the UK is facing one of the worse recessions it has ever faced, complimenting that with the anxiety in the public protesting the isolation methods because if lockdowns occur, some can’t work, if they don’t work they don’t get paid. So the real question is how does this all affect prices and how will the Bank Of England tackle this issue.