(MENAFN– ecpulse) The United Kingdome is to release fresh economic fundamentals for the market Wednesday with fresh update from the Bank of England (BoE) central banks July meeting minutes due later in the session.
The royal economy will be back on market watch, with investors closely watching the minutes of BoE for further hints on how the monetary policy committee voted in July.
The BoE opted to leave unchanged its monetary stance this month under Governor Mark Carney amid continuous improvement in the economy. Policymakers kept interest rate at its record low of 0.50 percent and the amount of asset purchases at 375 billion pounds.
Another UK event that could rock the markets this week is the first reading on growth.
The first reading in the second quarter Gross Domestic Product (GDP) will be out later this week on Friday and is expected to paint healthy picture of the country’s economy.
The royal economy expanded 0.8 percent in the first quarter taking the measure only 0.6 percent below pre-recession level. Any growth level above 0.6 percent will mark significant milestone.
As of 10:22 GMT +3, the pound slightly edged higher, pushing the GBPUSD pair to trade at $1.70720 after opening at $1.70641.
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