
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
The Bank of England kept its benchmark interest rate intact and also announced no change to its asset purchase facility program, as Britain’s major bank revealed on Thursday.
The BOE accounted that that it was holding the benchmark interest rate at about 0.25%, which is a widely expected move. Additionally, the major bank also informed that it was about to maintain the stock of asset purchases funded by the issuance of major bank reserves at £435 billion.
Minutes from the major bank's policy gathering revealed that eight members were in favor of leaving the major interest rate at the current record minimum of 0.25%.
By the way, dissenting member Kristin Forbes baked a 0.25% lift in the benchmark rate to 0.50%.
Market experts expected the Bank of England to vote 9-0 to keep its policy steady.
The currency pair GBP/USD was trading at 1.2320 from approximately 1.2260 ahead of the announcement. Meanwhile, EUR/GBP hit 0.8705, compared with the previous outcome of 0.8746 earlier.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
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