Bank of England  left policy unchanged

Bank of England left policy unchanged

At its December 14 meeting, the Bank of England (BOE) left the benchmark interest rate at 0.5% after a rate hike in November. Such decision came totally in line with the market’s expectations.

The Monetary Policy Committee (MPC) repeated that “further modest increases” of the rate would probably be needed over the next few years if the economy performed as expected. The MPC, however, didn’t give any further details about the timing of these future rate hikes. Traders do not expect another increase until the end of 2018.

All MPC members voted to keep the monetary policy unchanged. The central bank acknowledged the progress in Brexit negotiations. According to the BOE, the latest developments reduce the chance of Britain’s disorderly parting with the EU.

On the economic front, the regulator pointed out to a weaker-than-expected economic growth this quarter and concerns about an unwelcome increase in domestic inflation pressures.

GBP/USD has been trading in a volatile fashion between 1.3410 and 1.3465.

gbp

Similar

Greenback dives to day’s minimums versus yen

On Tuesday, the evergreen buck went down to the day’s minimums versus the Japanese yen, reversing earlier revenues, which emerged right after the head of the BOJ told it remained committed to today’s monetary easing and the bank wasn’t braced for scaling…

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera