GBPUSD & EURGBP post BoE
BoE Vote split comes in at 6 - 3
BoE keeps rates and asset purchases unchanged at 0.50% and 435bln respectively.
- Vote was 6-3 in favour of unchanged Bank Rate, unanimous for QE at 435B/APF at 10B
- Haldane, McCafferty and Saunders dissented, voting instead for a June hike
- Majority on MPC still reassured Q1 softness was largely temporary, but preferred to wait for further data on economy
- Dissenters saw greater likelihood erratic Q1 growth would rebound, saw upside risk to wage inflation
- MPC will not reduce stock of QE until Bank Rate reaches 1.5% (prev 2%)
- Reduction in QE stock will be at a gradual and predictable pace; over number of years
- Ongoing tightening of MonPol remains appropriate over forecast horizon
- UK economy to develop in line with May QIR forecast
- Global data since May QIR was mixed, financial conditions had tightened
BoE keeps rates and asset purchases unchanged at 0.50% and 435bln respectively.
- Vote was 6-3 in favour of unchanged Bank Rate, unanimous for QE at 435B/APF at 10B
- Haldane, McCafferty and Saunders dissented, voting instead for a June hike
- Majority on MPC still reassured Q1 softness was largely temporary, but preferred to wait for further data on economy
- Dissenters saw greater likelihood erratic Q1 growth would rebound, saw upside risk to wage inflation
- MPC will not reduce stock of QE until Bank Rate reaches 1.5% (prev 2%)
- Reduction in QE stock will be at a gradual and predictable pace; over number of years
- Ongoing tightening of MonPol remains appropriate over forecast horizon
- UK economy to develop in line with May QIR forecast
- Global data since May QIR was mixed, financial conditions had tightened
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.