Difficult to trade announcements the entire market is interested in, as, as has been said already, the outcome is likely priced in already. Interest rate announcements are therefore unlikely to be immediate winners, though following the trend they initiate is as good as any other strategy.
However, I have traded results announcements on FTSE350 stocks, not very often but with significant success. You can enter both a buy and a sell order the day before the announcement well clear of the preceding day's range. Whichever is triggered could be a winner as long as you take early profits (same day is often best). I remember two such orders that were triggered on results release dates and each brought me +10% net by lunchtime. That sort of thing pays for many poor outcomes. Once your order is filled, you can use the preceding day's close as a stop. Money management is key and it will not often be advisable to hold beyond the second day.
However, I have traded results announcements on FTSE350 stocks, not very often but with significant success. You can enter both a buy and a sell order the day before the announcement well clear of the preceding day's range. Whichever is triggered could be a winner as long as you take early profits (same day is often best). I remember two such orders that were triggered on results release dates and each brought me +10% net by lunchtime. That sort of thing pays for many poor outcomes. Once your order is filled, you can use the preceding day's close as a stop. Money management is key and it will not often be advisable to hold beyond the second day.
