bestcashbackprogramsforex Treasurys functi cashback forex of setting monetary policy has gradually diminished since 1997, yet the Treasury still sets inflation targets for the BoE Best forex trade cashback decides on the appointment and removal of key BoE personnel The relationship between the pound and the European economic and monetary union: due to Prime Minister Tony Blairs (Tony Blair) comments about possible membership of the European single currency - the euro, the pound often receives If the UK wants to join the eurozone, the level of Bestforextradecashback forexbrokercashbacks in the UK must be reduced to the level of the euro interest rate If the public voted to join the eurozone, the pound must be devalued against the euro for the development of the countrys industrial trade Therefore, any talk about the possibility of the UK joining the eurozone will depress the pound exchange rate BankofEngland (BoE): the Bank of England since 1997, the The BoE has acquired the function of setting monetary policy independently since 1997. The government uses inflation targeting as a criterion for price stability, generally measured by the RetailPricesIndexcludingmortgages (RPI-X), which is controlled to increase by less than 2.5% annually. Therefore, although monetary policy is set independently from the government, the BoE still has to meet the inflation criteria set by the Ministry of FinanceMonetaryPolicyCommittee(MPC): the Monetary Policy Committee This committee is mainly responsible for setting the level of interest ratesInterestRates: interest ratesThe central banks main interest rate is the minimum lending rate (prime rate) The first week of each month, the central bank will use interest rate adjustments to The BoE also sets monetary policy by making daily adjustments to the interest rate on government bond purchases from discount banks (financial institutions designated to trade money market instruments)Gilts: gilts British government bonds are also called giltsLikewise, the yield on 10-year gilts is comparable to that of other national bonds or U.S. Treasury bills over the same period The spread between the yield on 10-year gilts and the yield on other countries bonds or U.S. Treasury bills will also affect the exchange rate of the pound and other countries currencies3-MonthEurosterlingDeposits:3-MonthEurosterlingDeposits:3-MonthEurosterlingDeposits deposited in non-UK banks are called EurosterlingDepositsThe difference between the interest rate and the interest rate on EurosterlingDeposits in other countries at the same time is also one of the factors affecting the exchange rateEconomicData The main economic data of the UK include: initial unemployment, initial unemployment rate, average income, retail price index excluding mortgages, retail sales, industrial production, GDP growth, purchasing managers index, manufacturing and services survey, money supply (M4), income and housing price balance 3-month EurosterlingFuturesContent FTSE-100: The UKs main stock index is different from the US and Japan, the UKs stock index has less influence on the currency but nevertheless, the FTSE and the US Dow Jones index have a strong linkage CrossRateEffect: The impact of cross rates Cross rates can also have an impact on the pound exchange rate