Why Next Speech By BoE’s Broadbent Does Matter

A significant event on Monday will be the speech by the Bank of England’s Ben Broadbent, this will be Broadbent last public appearance prior to the anticipated rate decision in the following week.

Investors believe it is reasonable to expect rate hikes from 0.10% to 0.25% on December 16, but uncertainty remains high.

If Broadbent casts any doubts on such a move, the British pound could suffer. When it comes to Brexit, no news is good news, but the lack of a decision as well as the lack of final settlement to the noise over the Northern Irish protocol means it could always come back to haunt the pound.

Any incendiary comment from the chief British or European negotiators could hit the pound. Remarks related to Article 16 could have an outsized effect.