|07:00||United Kingdom||Nationwide house price index, y/y||February||1.1%||-0.9%||-1.1%|
|07:00||United Kingdom||Nationwide house price index ||February||-0.6%||-0.4%||-0.5%|
|07:30||Switzerland||Retail Sales (MoM)||January||-1.6%|| ||0.6%|
|07:30||Switzerland||Retail Sales Y/Y||January||-3%||-2.2%||-2.2%|
|08:30||Switzerland||Manufacturing PMI||February||49.3|| ||48.9|
|08:55||Germany||Unemployment Change||February||-11|| ||2|
|08:55||Germany||Unemployment Rate s.a. ||February||5.5%|| ||5.5%|
|09:00||Eurozone||S&P Global Manufacturing PMI Flash||February||48.8||48.5||48.5|
|09:30||United Kingdom||Consumer credit, mln||January||0.786||0.8||1.597|
|09:30||United Kingdom||Mortgage Approvals||January||40.54||38||39.637|
|09:30||United Kingdom||Net Lending to Individuals, bln||January||3.9|| ||4.1|
|09:30||United Kingdom||Purchasing Manager Index Manufacturing ||February||47||49.2||49.3|
|10:00||United Kingdom||BOE Gov Bailey Speaks|| || || || |
GBP depreciated against most other major currencies in the European session on Wednesday as investors digested the latest comments of the Bank of England’s (BoE) governor Andrew Bailey.
The pound rose against USD but fell against the rest of its major rivals.
Bailey said that, at this stage, he would caution against suggesting either that the BoE is done with increasing its benchmark rate or that it will inevitably need to do more. "Some further increase in Bank Rate may turn out to be appropriate, but nothing is decided," the BoE’s governor added.
According to Reuters, the latest Bailey's remarks prompted markets to slightly reduce their expectations of a 25-basis-point rate increase by the BoE next month and to raise bets on no hike. The likelihood of the latter move, however, is estimated at just 5%. Meanwhile, predictions of the probability that the BoE’s rates will peak at 4.75% in the second half of the year were unchanged at 70%. That suggests further hikes by 75 basis points cumulatively from the current levels.