Bank of England Inflation Report Hearings comprise speeches of the BoE Governor and several Monetary Policy Committee members in the British Parliament. Hearings cover latest inflation an financial stability reports; the MPC members answer questions of Parliament members. New appointments and new members of the Bank of England Committees are also discussed at the hearings.
Bank of England Inflation Report is published quarterly. The report provides a detailed economic analysis and inflation projections upon which the BoE Monetary Policy Committee bases its interest rate decision. It features the analysis of all factors influencing the development of inflation, and therefore, the BoE interest rate.
The Bank of England releases Financial Stability Report twice a year. It reflects the Financial Policy Committee's opinion on the current UK financial system stability and overview of events, which influenced the opinion. Also the Committee assesses current risks and presents measures to neutralize them.
Hearings of these reports in the Parliament is one of the forms of interaction of the BoE and the country's legislative body.
The event rarely affects the pound sterling quotes, but if new members are appointed for BoE key positions at the hearings, this may cause some short-term volatility in the British currency.