United Kingdom GBP

United Kingdom MPC Meeting Minutes

Impact:
High
Source: Bank of England

Latest Release:

Date:
Actual:
 
Forecast:
Previous/Revision:  
Period:

Next Release:

Date:
Period:
What Does It Measure?
The UK MPC (Monetary Policy Committee) Meeting Minutes measure the discussions and decisions made by the Bank of England's monetary policy committee regarding interest rates and overall monetary policy direction. It primarily focuses on inflation expectations, economic forecasts, and policy votes, serving as a key indicator of future monetary policy actions.
Frequency
The meeting minutes are released on a monthly basis, with the publication typically occurring two weeks after the committee's meeting.
Why Do Traders Care?
Traders closely monitor the MPC Meeting Minutes as they provide insights into the Bank of England's economic outlook and future monetary policy decisions, which can significantly impact the GBP currency and UK equities. The tone and content of these minutes can influence market sentiment, as traders adjust their expectations for interest rates based on the committee's discussions and economic assessments.
What Is It Derived From?
The MPC Meeting Minutes are derived from the internal discussions and deliberations of the Monetary Policy Committee, which includes a diverse group of economists and policymakers. The minutes detail the reasons behind the committee's decisions on interest rates and their analysis of economic conditions, with a focus on inflation metrics and growth forecasts.
Description
The MPC Meeting Minutes are crucial for market participants, as they shed light on the Bank of England's views on economic conditions and inflation, influencing future interest rate policies. They provide a comprehensive overview of the committee's rationale for policy decisions and highlight any divergences in opinion among members, making them a vital tool for predicting monetary policy shifts.
Additional Notes
The MPC Meeting Minutes serve as a coincident economic measure, offering timely insights in conjunction with other economic indicators like GDP growth and inflation figures. They are closely monitored alongside consumer price index (CPI) data and employment reports, as all these elements collectively influence monetary policy decisions and broader economic trends.

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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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