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BoE members unanimous in leaving interest rates unchanged

Wednesday, Jun 17 2015
BoE Meeting Minutes showed all nine members were in favor of leaving the key interest rate at a record low of 0.5% and making no changes to the central bank's £375 billion asset-purchase program. MPC members noted that headwinds to global growth had started to ease, meaning that some countries would likely start to normalise monetary policy. Many economists expect the United States to raise interest rates later this year.
 
"These policies could have international spillovers," the minutes said. "However, the Committee agreed that the path for UK monetary policy would depend on the prospects for inflation in the United Kingdom and would not be determined by the actions of other central banks."
 
After the Minutes were released Sterling was pushed higher and is currently being traded few points above 1.5720 level. Pair is likely to find support around 1.5650 area and resistance around 1.5780 level. Later today, in the US session, we can expect more volatility with FOMC interest rate decision and following statement being released.
 
More in this category: « UK wage growth accelerates, with unemployment rate steady at 5.5% Eurozone CPI up by 0.3% »

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