United Kingdom GBP

United Kingdom BoE Cunliffe Speech

Info

History

Chart

Impact:

Low

Source: Bank of England

Latest Release:

Date:

Actual:

Forecast:

Previous/Revision:

Period:

What Does It Measure?

The Bank of England (BoE) Cunliffe Speech measures the stance and insights of a key monetary policy figure regarding economic conditions, expectations, and potential policy actions. It primarily assesses topics related to inflation, interest rates, economic growth, and financial stability, which are crucial for understanding the UK’s monetary policy outlook.

Frequency

Speeches, such as that of BoE Deputy Governor Dave Cunliffe, are typically released on an ad-hoc basis, and there is no fixed schedule; however, they may be strategically timed in relation to significant economic data releases or central bank meetings.

Why Do Traders Care?

Traders monitor the Cunliffe Speech closely as it can signal the BoE's future policy direction, influencing monetary policy expectations that affect financial markets. Depending on the tone and content, it can lead to fluctuations in the value of the British pound, UK stocks, and bond yields, making it a vital consideration for investment decisions.

What Is It Derived From?

The insights presented in the Cunliffe Speech are derived from economic research, internal assessments at the BoE, and prevailing economic conditions. They reflect the analysis of macroeconomic indicators and may incorporate perspectives from surveys or consultations with various stakeholders in the economy.

Description

While speeches do not have the same preliminary or final report distinction as quantitative indicators, they are based on current conditions and forecasts communicated in real-time, affecting market perceptions immediately upon release. Trades and analysts focus significantly on the implications of the speech, often interpreting it in the context of existing economic data and central bank policy.

Additional Notes

The content of the Cunliffe Speech acts as a coincident economic measure, often reflecting contemporary economic conditions and shaping expectations for future policy actions. It is relevant not only within the UK context but also in how it positions the UK economy in relation to global trends and central banking practices in other developed economies.

Bullish or Bearish for Currency and Stocks

The impact of the Cunliffe Speech can vary. If the speech contains a hawkish tone indicating a need for tighter monetary policy due to inflation concerns, it can lead to: Hawkish tone: Signaling higher interest rates or inflation concerns, is usually good for the GBP but bad for Stocks due to higher borrowing costs. Conversely, a dovish tone suggesting easing monetary policy may be bearish for GBP but bullish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Time	Actual	Forecast	Previous	Surprise
Oct 26, 2023
Jun 15, 2023
Apr 17, 2023
Feb 28, 2023
Feb 23, 2023
Feb 07, 2023
Nov 21, 2022
Oct 11, 2022
Sep 28, 2022
Jul 06, 2022
Jun 28, 2022
Jun 22, 2022
Apr 04, 2022
Mar 02, 2022
Nov 04, 2021
Oct 13, 2021
May 20, 2021
May 13, 2021
Apr 16, 2021
Mar 23, 2021
Oct 19, 2020
Oct 19, 2020
Jun 09, 2020
Feb 28, 2020
Feb 27, 2020
Oct 14, 2019
Jul 03, 2019
May 07, 2019
Mar 06, 2019
Oct 16, 2018
Jul 13, 2018
Jun 05, 2018
Apr 19, 2018
Feb 26, 2018
Jul 08, 2017