FOREX TradingCharts.com

Financial News: Bank Of England Holds Rates, Asset Purchase Target

Bank Of England Holds Rates, Asset Purchase Target Steady

12/20/2018 - 07:52:00 (RTTNews)

(RTTNews) - Bank of England policymakers unanimously left the key interest rate and asset purchase targets unchanged on Thursday, as expected.

The nine-member Monetary Policy Committee held its key interest rate unchanged at 0.75 percent in line with economists' expectations. The stock of corporate bond purchases was kept at GBP 10 billion and that of government bond purchases at GBP 435 billion.

Brexit uncertainties have intensified considerably since the previous policy session and they are weighing on UK financial markets and on the near-term growth outlook, the bank said. The bank expects inflation to fall below 2 percent in coming months due to lower oil prices.

Policymakers also judged that the loosening of fiscal policy in Budget 2018, announced after the November Inflation Report projections were finalized, will boost UK GDP by the end of the MPC's forecast period by around 0.3 percent. The central bank reiterated that, were the economy to develop as projected in November and there is smooth adjustment to the possible Brexit outcomes, a margin of excess demand was expected to emerge. "In that context, an ongoing tightening of monetary policy over the forecast period, at a gradual pace and to a limited extent, would be appropriate to return inflation sustainably to the 2 percent target at a conventional horizon," the bank said. The broader economic outlook will continue to depend significantly on the nature of Brexit, particularly the future trade relationship between the UK and the EU. "The monetary policy response to Brexit, whatever form it takes, will not be automatic and could be in either direction," the bank said.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Consumer Sentiment Plunges To Lowest Level Since Trump's Election (06 min(s), 45 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. has seen a substantial deterioration in the month of Ja ...Full Story»

Portugal Producer Price Inflation Slows For Second Month (54 min(s), 45 sec(s) ago)
(RTTNews) - Portugal producer price inflation slowed for a second straight month in December, figu ...Full Story»

Eurozone House Price Growth Retains Momentum In Q3 (36 min(s), 45 sec(s) ago)
(RTTNews) - Eurozone house prices grew at a robust rate in the third quarter, albeit slightly slow ...Full Story»

U.S. Industrial Production Rises Slightly More Than Expected In December (30 min(s), 45 sec(s) ago)
(RTTNews) - With jumps in manufacturing and mining output more than offsetting a sharp pullback in ...Full Story»

Swiss Producer And Import Price Inflation Lowest In 16 Months (26 min(s), 45 sec(s) ago)
(RTTNews) - Switzerland's producer and import prices grew at the weakest pace in sixteen month ...Full Story»

UK Retail Sales Fall Worst Since May 2017 (41 min(s), 45 sec(s) ago)
(RTTNews) - UK retail sales decreased in December at the fastest pace in over one-and-a-half years ...Full Story»

Eurozone Current Account Surplus Falls In November (13 min(s), 45 sec(s) ago)
(RTTNews) - Eurozone current account surplus decreased in November, led by a decline in the surplu ...Full Story»

UK Retail Sales Fall Most Since May 2017 (14 min(s), 45 sec(s) ago)
(RTTNews) - UK retail sales decreased in December, marking the worst decline in over one-and-a-hal ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Plunges To Lowest Level Since Trump's Election

01/18/2019 - 10:16 AM (RTTNews)
(RTTNews) - Consumer sentiment in the U.S. has seen a substantial deterioration in the month of Ja ...Full Story>>

Portugal Producer Price Inflation Slows For Second Month

01/18/2019 - 10:04 AM (RTTNews)
(RTTNews) - Portugal producer price inflation slowed for a second straight month in December, figu ...Full Story>>

Eurozone House Price Growth Retains Momentum In Q3

01/18/2019 - 09:46 AM (RTTNews)
(RTTNews) - Eurozone house prices grew at a robust rate in the third quarter, albeit slightly slow ...Full Story>>

U.S. Industrial Production Rises Slightly More Than Expected In December

01/18/2019 - 09:40 AM (RTTNews)
(RTTNews) - With jumps in manufacturing and mining output more than offsetting a sharp pullback in ...Full Story>>

Swiss Producer And Import Price Inflation Lowest In 16 Months

01/18/2019 - 09:36 AM (RTTNews)
(RTTNews) - Switzerland's producer and import prices grew at the weakest pace in sixteen month ...Full Story>>
These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.