All Eye's on Bank Of England's "Super Thursday

       

By Jon Sindreu
        LONDON--Investors will be keeping a close eye on the Bank of England Thursday, when for the first time the U.K.'s central bank will announce its interest-rate decision alongside publication of minutes from its rate-setting panel and fresh forecasts for the British economy.
        Until this coming week, the BOE had always spread out the information it provides to markets after its monthly policy announcement, but from now on, investors will get the interest rate decision and records of policymakers' votes on the same day.
        This Thursday, which some analysts are dubbing "Super Thursday," will be even more flooded with information, as the BOE is also scheduled to release its quarterly appraisal of the British economy--the August Inflation Report.
        For the first time, however, this document will be able to refer openly to what was discussed in the most recent meeting of the BOE's rate-setting body, the Monetary Policy Committee.
        "We would expect this document to provide all the main messages that the MPC wishes to convey, so this will be our first port of call for post-release analysis," said Chris Hare, an analyst at Investec Bank. "We expect the minutes to remain broadly unchanged in structure, therefore adding extra flavor to the policy announcement."
        As with every inflation report, BOE Governor Mark Carney will hold a press conference after the policy decision has been announced, which will provide clues on whether an interest rate rise is coming closer--as several officials have recently signaled.
        Economists expect two of the BOE's rate-setters to break ranks and vote to raise borrowing costs, which have remained at record-low levels for more than six years.
        Yet "Super Thursday" is not the only topic of interest for investors monitoring the British economy. A plethora of data is scheduled to be released next week, as the following table indicates:
        (Figures in parentheses refer to number of economists surveyed.)
        Write to Jon Sindreu at jon.sindreu@wsj.com
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        July 31, 2015 12:49 ET (16:49 GMT)

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