In addition to the ECB decision, there’s also going to be an announcement by the Bank of England at 7:00 AM ET.It’s not really getting that much attention, and few folks outside of people who trade pounds and gilts will really care that much.
But, there is one subplot we’re interested in watching.
The last couple of months, China’s central bank, the PBOC, has come in with a surprise rate cut, just as the BoE was making their announcement. There’s something almost rudely amusing about the timing.
We wrote about the pattern here on July 5.
So anyway, we’ll be curious to see if it happens again today, at which point the pattern will definitely be confirmed.