UK Week Ahead: Bank of England Officials to Speak, Money Markets in Focus

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2026-03-23 11:53:13

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Investing.com - Several Bank of England policymakers will speak this week, including Chief Economist Huw Pill, who will address the market on Tuesday.

Megan Greene, Sarah Breeden, and Alan Taylor will also comment later this week. Market expectations for interest rates may make these officials’ remarks more sensitive.

Regarding data, the UK February inflation figures will be released on Wednesday, but ING believes that, given developments so far in March, the impact of this data may be limited. The Purchasing Managers’ Index (PMI) released on Tuesday is expected to attract more market attention.

According to ING, the current EUR/GBP exchange rate is about 0.5% above its short-term fair value. However, the bank states that unstable risk sentiment is preventing a significant downward correction of this currency pair.

As of 10:23 AM GMT on Monday, the British pound weakened against the US dollar, and the euro also declined slightly against the pound. GBP/USD is at 1.3263, down 0.6%, and EUR/GBP is at 0.8664, down 0.10%.

Escalating tensions in the Middle East have weighed on the pound, UK stocks, and global markets, with the FTSE 100 falling 2.3% to 9,685.78 points.

Last weekend, U.S. President Donald Trump issued an ultimatum, urging Iran to reopen the Strait of Hormuz, while Tehran only proposed a selective reopening to neutral ships.

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