BOE super Thursday is back

It's is a Thursday and it's a super one, thanks to Bank of England's (BOE), mega releases and events. Today Bank of England (BOE) will announce its regular monetary policy along with minutes. What make today special is quarterly inflation report, which will be followed by

All the three releases, individually have enough firepower to generate volatility spike and release of all three might cast a storm over pound based pairs. All will though depend on wordings.

Preview of the four -

• Monetary policy decision - No major change is expected from interest rates point of view, however dovish tone in the policy statement might set the mood for Pound and Gilts ahead of NFP report.
  
  
• BOE minutes - This release will be the center focus for today. Focus will be on the number counts of dove and the hawks. So far Ian McCafferty has been the only hawk in the board, however one previous hawk Martin Weale might also vote for a rise.
  
  
• Quarterly inflation report - Possibilities are high that tone might be dovish while forecasting inflation as energy prices continuing their plunge for the second time this year. Moreover shop prices are in decline for 30^th consecutive month according to latest report from BRC.
  
• Mark Carney speech - Mr. Carney is most likely to exert his firm view over interest rate hike in next year. However in recent days, he has rolled back some of his hawkish tone.

Pound is currently trading at 1.538 against dollar.

Pound has been trading in a tight range this week so far. While Bears remain large around 1.55 area, bulls have supported the pair around 1.536 area.

Presence of any extra hawk would be very hawkish for Pound. Doves will focus on Carney speech if all other variables remain same as prior.