BOE super Thursday is back.

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 speech by Governor Mark Carney.

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 and despite January turmoil. Many expect him to disappear today but if he stays vocal hawk, pound could find some strength in that.
   
• 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 declined again according to latest report from BRC.
   
• Mark Carney speech - Mr. Carney is most likely to exert his firm view over interest rate hike to be the next policy move but he is also like to point out that now may not be the time to hike rates.

Upside surprise would have more momentum today as all communications are expected to be dovish.

We, at FxWirePro, expect Pound to continue upside and reach our target area of 1.485-1.49.

Pound is currently trading at 1.466 against Dollar.