Makro Haberleri

Deutsche Bank economists expect the Bank of England (BoE) to keep rates at 3.75%, stressing two-sided risks as growth forecasts are cut and inflation projections raised.

Here is what you need to know on Thursday, April 30:

The European Central Bank (ECB) is scheduled to announce its monetary policy decision on Thursday, following its April meeting. The Frankfurt-based institution is widely expected to keep its key interest rates unchanged, leaving the deposit facility at 2%, a level considered broadly neutral.

The Euro (EUR) extends losses for the third consecutive day against the US Dollar (USD) on Thursday, trading at 1.1663 at the time of writing, down from weekly highs at 1.1755.

The GBP/USD pair trades flat near 1.3475 during the European trading session on Thursday. The Cable consolidates as investors await the Bank of England’s (BoE) monetary policy announcement at 11:00 GMT.

Danske Research Team expects the European Central Bank (ECB) to leave the deposit rate at 2.00% while keeping the door open for summer tightening. The bank looks for 25bp hikes in both June and July and sees Euro Area Harmonised Indices of Consumer Prices (HICP) at 2.8–2.9% y/y, with core easing.

The Bank of England (BoE) is widely expected to hold the benchmark Bank Rate unchanged at 3.75% for a third consecutive meeting on Thursday, as traders assess the impact of the Middle East war on prices and the UK economy.

USD/CHF extends its gains for the third consecutive day, trading around 0.7920 during the Asian hours on Thursday.

The USD/JPY pair steadies near a 21-month high of around 160.45 during the early European trading hours on Thursday. Traders prefer to wait on the sidelines as Japanese authorities are on high alert for intervention after the Japanese Yen (JPY) breached the psychological level.

The AUD/USD pair gathers strength to near 0.7130 during the early Asian session on Thursday. The Australian Dollar (AUD) edges higher against the US Dollar (USD) on hotter domestic inflation data.