As expected, the Bank of England (BOE) decided to maintain the bank rate without changes in 4.50% today. The vote had a hard line turn with 8 members voting for a decision without changes and Dhingra voting for a cut of 25 basic points, reports Danske Bank, Kirstine Kundby-Nielsen.
Gilt’s yields are still slightly upward
“As expected, the BOE today maintained the banking rate without changes in 4.50%. The vote was slightly tilted towards the hard line side, but we do not see this as a broad change in the feeling within the MPC.”
“In general, the statement revealed that the BOE still favors a ‘gradual’ and ‘careful’ approach to relieve monetary policy, while the uncertainty increased.”
“The market reaction was modest, with the yields of the Gilts following slightly upward and the EUR/GBP moving down the divided vote on a hard line.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
