BOE meeting results - Ester Holdings
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BOE meeting results

  • The number of votes for reducing the rate of the Bank of England (Feb), fact 0, forecast 0.
  • The number of votes for the Bank of England rate increase (Feb), fact 0, forecast 0.
  • The number of votes for maintaining the current rate of the Bank of England (Feb.), fact 9, forecast 9.
  • The total amount of the QE program of the Bank of England (Feb), fact 435B, forecast 435B
  • Interest rate decision (Feb), fact 0.75%, forecast 0.75%.

At the February meeting of the Bank of England, in fact, they kept the monetary policy unchanged. Expectations for rate hikes and incentive programs remain at the same level. Also expectations for inflation remained restrained. The general, moderate tone of the Bank of England protocol caused the British pound decline against its main competitors.

The restrained tone of the Central Bank of the United Kingdom is associated largely with the uncertainty around Brexit and the quick timing of its implementation. This made the Bank of England to be extremely careful in their statements. The GBP/USD pair remains under pressure from negative sentiment and the US dollar, limited to significant oversold and support levels: 1.2840 and 1.2800.

GBP/USD chart. Current price – 1.2870

Read also: “Emerging markets and their prospects: Russian ruble (RUB)”

Hanzenko Anton

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