wrapper

BoE left interest rates unchanged

Thursday, Jan 14 2016
The Bank of England kept its benchmark interest rate unchanged and announced no change to its asset purchase facility program, it said on Thursday. The BOE said it was holding the benchmark interest rate at 0.50%, in a widely expected move. The rate has been held at that level since March 2009. The central bank also said it was to maintain the stock of asset purchases financed by the issuance of central bank reserves at £375 billion. 
 Minutes from the central bank's policy meeting showed that eight members were in favor of leaving the key interest rate at a record low of 0.5%, in line with expectations and unchanged from the previous meeting. Dissenting member Ian McCafferty voted for a 0.25% hike in the benchmark rate to 0.75% for the fifth consecutive month. All nine members were in favor of making no changes to the central bank's £375 billion asset-purchase program. According to the minutes, rates are expected to rise gradually but to lower levels than previous cycles. The majority of policymakers said the expected pickup in inflation would be “a little more modest than previously assumed.”
 
Sterling is currently being traded around 1.4420 handle. Pair is likely to find support around 1.4350 handle and resistance above 1.4480 level. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
More in this category: « Euro higher in an uneventful European part of the session Unemployment Claims increased to 284,000 »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.