Daily Alert – Thursday 23rd March 2023: Last hike from the Bank of England?

Mark NugentDaily Alert, March 2023

Daily Alert – Thursday 23rd March 2023: Last hike from the Bank of England?

Good afternoon.

The Fed raised interest rates by 25 basis-points to 4.75% – 5.0%, as expected. There was little of note in Chair Powell’s press conference.

Today, the Bank of England raised rates by 25 basis-points to 4.25%. In the statement, the bank removed its judgment that “risks to inflation were skewed significantly to the upside.” The bank also said that “inflation is expected to fall significantly in Q2, undershooting the February projection.” So, today’s hike is probably the last.

My two trades, WTI and EURGBP, both long, are doing nicely.

There is little left on this week’s economic calendar.

I’ll be back tomorrow with a brief video of last week’s losing EURGBP long trade.

VIP Club members can see today’s video, all brief trading videos, the Monthly and YTD Performance videos, the Trading Video Course and download the MTM Indicators software HERE