FCA and BoE said they are planning to move the default interest-rate benchmark for swap market from LIBOR to SONIA by 27 October 2020.
London FX volume dropped in April 2020 from October 2019, according to the FXJSC turnover survey conducted by Bank of England.
The United Kingdom's economy, which relies to a large extent on tourism revenues and manufacturing, is already seeing the impact of coronavirus or COVID-19.
Eurozone PMI and BoE in focus for this week. Get more insights for the new trading week with AtoZ Markets' Forex Weekly Fundamental Forecast.
BoE, issues a discussion paper on the CBDC. Governor said, despite the Bank of England’s interest in digital currency, it still has a long way to go.
Jon Cuncliffe of the Bank of England (BoE), has warned that the adoption of a cryptocurrency would have profound economic consequences in the UK.
After strong bearish pressure from 1.3200, GBPUSD has become very volatile. Currently, GBPUSD is facing a bullish pressure from 1.2900 support level.
Will the Bank of England will cut interest this week? What other event will drive the market this week? Stay updated with this weekly market overview.
Will the BoE cut interest rates this January? Get more insights for the new trading week with AtoZ Markets’ Forex Weekly Fundamental Forecast.
Six Major Central Banks have created a group with the Bank for International Settlements (BIS) to research the central bank digital currencies (CBDC).