The Bank of England (BoE) is expecting that
some “monetary policy easing will likely be required over the summer” as the
“economic outlook has deteriorated” on the back of the UK voting to leave the
EU, the BoE governor Mark ...
The Bank of England (BoE) will not ease interest rates just
to appease the expectations of the market or to reassure consumers and
businesses following the Brexit vote, warned Martin Wheale, an external member of the Monetary Policy
Committee (MPC) ...
The Bank of England’s (BoE) Monetary Policy Committee (MPC) has voted unanimously in favour of a 25 basis point cut in Bank Rate to 0.25%.
It also voted for a new Term Funding Scheme to reinforce the pass-through cut in Bank ...
Expect further rate cuts from the Bank of England (BoE) as Governor Mark Carney shows that he is willing to let sterling continue depreciating, say analysts.
“The package of stimulus announced by the Bank of England has prompted a significant ...
The Bank of England’s (BoE) Monetary Policy Committee (MPC) has voted unanimously to maintain the measures it introduced in its Brexit-induced stimulus package announced in August.
This means that it will hold the Bank Rate at 0.25% and continue with the programme of sterling non-financial investment-grade corporate bond purchases totalling up to £10 billion, financed by the issuance of central bank reserves.
The MPC also voted unanimously to continue with the programme of £60 billion of UK government bond purchases to take the total stock of these purchases to £435 billion, financed by the issuance of central bank reserves.
Sterling jumped almost 100 pips today after the British High Court ruled that the UK parliament must vote on Brexit before it is formally triggered by Article 50.
The government is expected to appeal the court’s decision, but in the meantime, sterling rose from 1.2335 at 10am UK time to peak at 1.2494 by 1:15pm, its strongest since the October 7 flash crash.
The other big news in the UK today was that the Bank of England’s Monetary Policy Committee (MPC) voted unanimously to maintain Bank Rate at 0.25%.