BOE Monetary Policy Hearings Today – Wednesday 7th September 2022

BOE Monetary Policy Hearings Today

GBP/USD retreats from the weekly top towards 1.1500 during Wednesday’s Asian session amid the firmer US dollar and fears surrounding the UK economy. Liz Truss won the PM candidate race, which in turn propelled chatters over her plan to freeze energy prices and help power companies in Britain but this didn’t help the GBP.

Fears of a recession are growing and uncertainty over the Bank of England’s (BOE) next move. BOE Monetary Policy Hearings, comments from the BOE/Fed policymakers will be in focus for immediate directions.

At 09.50 GMT+3 today, GBP/USD is at 1.1492.

In other news, Apple is expected to unveil the next generation of iPhone today (September 7), with an ‘always on’ display widely tipped as a major upgrade. The announcement is expected to feature an iPhone 14 Pro and a cheaper iPhone 14, each available in normal and large sizes.

All will be revealed today, on Wednesday, 7 September. The event starts at 10.00 local pacific time – that is 13.00 eastern, 18.00 in the UK, and 20.00 GMT+3.

Also today, Canada release its BOC Rate Statement, Overnight Rate, and Ivey PMI at 17.00 GMT+3. At the same time, FOMC Member Mester and Brainard will speak.

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