Bank of England (BoE) | FX Bank Forecast

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FX BANK FORECAST · COVERAGE

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Aggregated year-end forecasts, scenario shifts, and curated analyst notes from 35 institutional desks. No promotion.

BoE & the GBP: common questions

Date	Event	Country	Impact	Consensus	Previous
2026-08-07	CFTC GBP speculative net positions	UK	Med	—	-64.8 K
2026-08-10	BRC Retail Sales Monitor YoY (Jul)	UK	Med	1.5%	1.7%
2026-08-12	RICS House Price Balance (Jul)	UK	Med	-30%	-33%
2026-08-13	Gross Domestic Product QoQ (Q2)	UK	High	0.4%	0.6%
2026-08-13	Goods Trade Balance Non-EU (Jun)	UK	Med	-9.3 B	-7.14 B
2026-08-13	Goods Trade Balance (Jun)	UK	Med	-19.8 B	-18.66 B
2026-08-13	Balance of Trade Non-EU (Jun)	UK	Med	—	-7.14 B
2026-08-13	Gross Domestic Product YoY (Q2)	UK	High	—	0.9%

When is the next BoE meeting?

The next Bank of England (BoE) policy decision is scheduled for Aug 7. Because Bank of England sets monetary policy for the GBP, its rate decisions and forward guidance are among the most important scheduled catalysts for GBP exchange rates, and sell-side FX desks reposition their GBP forecasts around each meeting. FX Bank Forecast tracks how the major investment banks' GBP targets shift before and after BoE decisions, so you can see whether the consensus is moving with the policy path or diverging from it. Watching the cross-bank reaction to each meeting is often a more durable signal than any single house call.

What is the BoE's current policy stance?

Bank of England's policy lean is read from its most recent decisions and guidance. A more hawkish stance — biased toward higher-for-longer rates — tends to be supportive of the GBP, while a dovish, easing-biased stance tends to weigh on it, though the market reaction always depends on what was already priced in. What matters for GBP forecasting is less the stance in isolation than how it compares with what investment banks expected and how it shifts the projected rate path. FX Bank Forecast aggregates how 35 major banks read the BoE path and translates it into where the GBP consensus and its dispersion sit.

How does the BoE affect the GBP?

Monetary-policy expectations are one of the dominant drivers of currency moves, so Bank of England's decisions — and, just as importantly, how they compare with other central banks — feed directly into where strategists set their GBP targets. Relative policy paths (the BoE versus the Fed and other majors), the pace of cuts or hikes, and the tone of guidance are the channels through which BoE actions transmit into the GBP. FX Bank Forecast compares the published GBP forecasts of 35 major investment banks side by side and shows how that consensus — and the spread of views around it — shifts as the BoE outlook evolves.

See the GBP bank consensus and how it shifts around BoE decisions

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Bank of England

Meeting Schedule (2026)

Policy-rate trajectory

Upcoming Macro Calendar — United Kingdom

Bank Consensus on GBP

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BoE & the GBP: common questions

When is the next BoE meeting?

What is the BoE's current policy stance?

How does the BoE affect the GBP?