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BoE keeps rates at record low of 0.5%

Thursday, Mar 17 2016
Bank of England left interest rates on hold and warned that rising uncertainty over Brexit could hit the economy. The BoE’s monetary policy committee voted unanimously to leave borrowing costs at their current record low of 0.5%, extending a run dating back to March 2009. Policymakers also voted 9-0 to leave the Bank’s quantitative easing program unchanged at £375 billion.
In its meeting minutes, the BoE noted that rising uncertainty over a possible British exit from the European Union in the upcoming referendum on June 23 could hit economic demand. “There appears to be increased uncertainty surrounding the forthcoming referendum on UK membership of the European Union. That uncertainty is likely to have been a significant driver of the decline in sterling,” the minutes said.
 
Sterling is currently being traded few points above 1.44level. Pair is likely to find support around 1.4350 handle and resistance above 1.45 level. Later today, in the US session, Unemployment Claims, Philly Fed Manufacturing Index and Current Account figures are scheduled for a release. 
More in this category: « Euro area inflation at -0.2% Unemployment Claims increased to 265,000 »

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