Money News Overview Monday 17th June: Bank of England policy announcement this week will be closely watched

A quiet start to the week with only the NY Fed Empire State survey due.

Tomorrow, we have the German ZEW Business Confidence numbers followed by the US retail Sales & Industrial Production figures.

Markets will also turn their attention to the UK CPI and Retail figures on Wednesday.

The Bank of England interest rate announcement takes place this Thursday.

The pound has dipped since last week’s highs against the euro and dollar. Most of last week’s movement came following the French snap election. France will remain the main source of interest for the euro over the coming weeks.

The pound weakened off on Friday against most major currencies as concerns peaked ahead of this Wednesday’s inflation report and Thursdays Bank of England policy announcement.

This Thursday, the Bank of England policy announcement will be closely watched for signals of any rate cuts. It is now expected that we will see an August rate cut.

Comments that follow the Bank of England policy announcement will be key and could result in sterling volatility.

To cap off a busy week, on Friday we have the UK retail sales and PMI figures for the EU and UK.