The Financial World Awaits Crucial Interest Rate Decisions This Week

London: 18 September 2023 (TraderMade): The third week of September hosts many critical economic policy decisions. The financial world watches these crucial events, as these may drive the direction of the Forex market shortly.

Fed Interest Rate Decision The Federal Reserve System (Fed) will

announce fresh interest rates on Wednesday, 20 September 2023. The financial experts anticipate that the Fed may keep the rates unchanged at 5.5%.

UK Inflation Rate Data The Office of National Statistics will

release UK inflation rate data on Wednesday. Notably, UK inflation dropped to 6.8% in July. Economists consider this a positive sign as the government and central bank have taken tough decisions to counter inflation and bring it down to a target of 2%.

BoE Interest Rate Decision The Bank of England will announce

interest rates on Thursday, 21 September 2023. The British central bank may raise interest rates by 25 basis points to 5.25%. The inflation rate is decreasing, yet it is way above the target rate of 2%. So, the BoE may decide on another hike during this meeting.

Overall, significant global economies are set to unfold policy decisions this week. These important announcements may set the tone for major Forex pairs, like GBPUSD, EURGBP, and more.

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