Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

The GBP/MYR currency pair hovered above a 9-month low of 5.4589 on Wednesday ahead of the outcome of the Bank of England’s and the Central Bank of Malaysia’s policy meetings.

The Bank of England is expected to keep its benchmark interest rate intact at 4% at its November 6th meeting.

In September, two BoE policy makers voted in favor of a 25 basis point rate cut, while seven voted for leaving rates on hold.

The central bank had cited progress in disinflation after past shocks, underpinned by restrictive policy.

Wage growth, while still elevated, has slowed and is expected to ease further.

BoE policy makers had also highlighted a gradual, data-driven approach with no pre-set trajectory for rate cuts.

Meanwhile, the Central Bank of Malaysia is anticipated to maintain its benchmark interest rate at 2.75% at its November 6th meeting.

The GBP/MYR currency pair was last up 0.15% on the day to trade at 5.4734.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • WTI Stays Above $98 as Tensions Offset OPEC Move SupplyWTI Stays Above $98 as Tensions Offset OPEC Move Supply Key Moments WTI bounced from a gap-down open near $96.45; however, it still trades over 1% lower, just above the mid-$98.00s. Meanwhile, rising Iran-related risks in the Strait of Hormuz and stalled US-Iran talks continue to […]
  • NZD/USD with a decline, ignoring positive NZ trade balance dataNZD/USD with a decline, ignoring positive NZ trade balance data New Zealand dollar edged lower against the greenback on trading Wednesday, despite the release of optimistic trade balance data from New Zealand, as soft Chinese PMI caused greater influence on the kiwi.NZD/USD slid to a session low at […]
  • WTI crude retains losses as US inventories jump, Brent downWTI crude retains losses as US inventories jump, Brent down West Texas Intermediate fell on Wednesday as the Energy Information Administration reported a larger-than-expected jump in US crude oil inventories in the week ended November 21st, while domestic crude production surged to a new record. Brent […]
  • Forex Market: GBP/JPY daily forecastForex Market: GBP/JPY daily forecast During yesterday’s trading session GBP/JPY traded within the range of 172.47-173.00 and closed at 172.96, gaining 0.22% for the day.At 7:27 GMT today GBP/JPY was down 0.03% for the day to trade at 172.90. The pair touched a daily low at […]
  • Kraft Heinz Shelves Split Plans, Prioritizes Profit ExpansionKraft Heinz Shelves Split Plans, Prioritizes Profit Expansion Key Moments Kraft Heinz paused previously announced plans to separate into two distinct companies. The company plans to allocate $600 million toward marketing, sales, and product development. Kraft Heinz shares fell 5.2% […]
  • EUR/USD still near six-week lowsEUR/USD still near six-week lows The euro traded close to six-week lows versus the greenback on Monday, as stronger than projected employment data from the United States, released on July 5th, bolstered expectations of a possible bond purchase tapering by the Federal Reserve […]