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United Kingdom GBP

United Kingdom BoE Deputy Gov Broadbent Speech

Impact:
Medium
Source: Bank of England

Latest Release:

Date:
Actual:
 
Forecast:
Previous/Revision:  
Period:
What Does It Measure?
The Bank of England (BoE) Deputy Governor Broadbent's speech measures the central bank's outlook and perspective regarding monetary policy, economic conditions, and inflation expectations. The primary focus of the speech typically includes insights on interest rates, economic growth, monetary stability, and overall financial market conditions, which are critical for understanding the bank’s policy direction.
Frequency
Such speeches are made periodically, usually in response to pressing economic conditions or as part of scheduled public engagements, with no fixed release schedule while the content often includes both preliminary and finalized points related to monetary policy.
Why Do Traders Care?
Traders pay close attention to these speeches as they provide crucial insights into the BoE's future policy decisions which can affect currency valuations, particularly the British Pound (GBP), and overall market sentiment on equities. A hawkish stance can bolster GBP strength and uplift stocks, while a dovish tone can lead to bearish sentiments in both markets.
What Is It Derived From?
The content of the speech is derived from ongoing economic analysis conducted by the BoE, which includes data assessments, economic forecasts, and public communications, informed by statistical evidence and research conducted by economists within the institution. Broadbent’s remarks reflect the consensus view of the BoE’s ruling committee and often address market concerns and expectations.
Description
The speech serves as a reflection of the central bank's current economic outlook, providing the market with guidance on monetary policy intentions. While it may not undergo formal revisions like reports, it plays a significant role in shaping trader expectations and reactions to monetary policy.
Additional Notes
This speech can serve as a leading indicator of shifts in monetary policy, making it pertinent for evaluating the economic landscape. It relates closely to ongoing fiscal developments and may carry implications for economic performance in the UK and potentially provide insights relevant to global economic trends.
Bullish or Bearish for Currency and Stocks
A hawkish tone: Signaling higher interest rates or inflation concerns, is usually good for the GBP but bad for Stocks due to higher borrowing costs.

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
Mar 02, 2016