Morning Juice – Europe Session Prep

Good Morning Traders! This Thursday we get the BoE Bank Rate.

Here is what to expect for the day.

Sentiment

Susan Collins, President of the Federal Reserve Bank of Boston, indicated that interest rates will likely need to be sustained at a two-decade high for longer than previously believed to dampen demand and decrease pricing pressures.

Bank of Japan Governor Kazuo Ueda says the Bank of Japan may hike interest rates if prices rise as projected. In answer to parliamentary inquiries, Ueda stated that the bank might hike interest rates if inflation expectations grow. He reiterates his belief that a rapid and one-sided devaluation of the yen is undesirable and detrimental to Japan’s economy.

Masato Kanda, Japan’s top currency official, says it is false that government officials discussed market intervention. Kanda was briefing reporters Thursday on a TV Tokyo story claiming an anonymous person confirming action in the currency market last week.

Oil edged up following a mixed assessment of US stockpiles, which featured an unexpected decline in countrywide crude reserves.

Docket

07:00 ET
BoE Bank Rate
Median Forecast: 5.25% | Prior 5.25% | Range 5.25%/5.25%

BoE Rate Statement

BoE Monetary Policy Report

Good Luck today, Traders!