Trading the BoE interest rate decision this week?

Who of you is trading this weeks BoE interest rate decision? The previous and consensus are both 0,5 %. How might the GBP pairs react if it stays at 0,5% ?

To me - a change is unlikely - it is more about whether the votes indicate more of an inclination to move towards a rate change

No change. We'll see a cut before we see a rise - Western economies are heading into recession.

GBP won't really react to the Bank Rate (assuming it doesn't surprise) ... it might react strongly to the language of the inflation report and policy summary though.

If the bank rate does surprise, GBP's reaction will be too unpredictable and too fast for me to exploit anyway, so I pay more attention to the accompanying releases - they will provide more tradeable opportunities moving forward.

If the inflation report contains higher projections than the last one, or if the policy statement is more hawkish, I'll be buying GBP hard in the coming days ....

Same page!

There's definitely a correction going on but USA and UK are still a long, long way from entering a recession .... I don't think it's going to happen

I disagree, and so do the markets - stagnant labour market in the US, only job growth is low paid and part time. Manufacturing in long term decline, dollar about to collapse, over 19 Trillion in federal govt debt, markets collapsing, and you say a recession is a long long way off?? If it's not already here, then it's about to be

2013 article - all coming to a head now
http://economyincrisis.org/content/a...nomic-collapse

I'm not saying you're wrong - I don't know which way things will go in the future - but none of those things indicate a recession. A recession is two or more consecutive quarters of GDP growth below zero and a rising unemployment rate or negative wage growth, neither of which is being threatened yet in USA or the UK.

The problems you mention may or may not lead into an actual recession - but GDP and unemployment usually generate strength/weakness in other areas of the economy, not the other way around.

And this is exactly what we may get. Yesterday the Atlanta Fed GDP Now released a far weaker than expected initial GDP forecast for the 1st 1/4, at 1.2%, way lower than the Federal reserves estimate of 2.5 - 3%. Last year the Atlanta fed's 4th 1/4 estimate came in at 2.5% and we got 0.7%. If the 1st 1/4 misses by as much as the 4th one did, then we could see neg GDP growth, and why would.t we, this 1st 1/4 has started off way worse than last year's 4th 1/4 did, and the data coming out is horrible. What's more, the 4th 1/4 still has two revisions coming up, and will most probably be revised down to perhaps below zero, the data so far points that way, and even if they don't get it all the way down to zero, I think a few months down the line will show that the US was already in recession going into the final 1/4.

As for employment, the only growth there is is in low paid part time work, hardly the engine of economic growth. No, for me, the US is screwed and it'll take the entire western world down with it. It's good for the long term though, as we need a total collapse of historical proportion for there to be a complete restructuring away from the fractional reserve banking system. Yes it'll be painful for many, but it simply has to happen, and I believe it'll be this year unless the Fed cuts rates and introduces QE4 before the election in November so that Clinton gets elected, but that will only be a sticking plaster. Ultimately, sooner or later, it's recession, and a massive one at that.