FOREX TradingCharts.com

Financial News: Bank Of England To Stay Pat On Rates

Bank Of England To Stay Pat On Rates As UK Braces For Hung Parliament

06/14/2017 - 08:33:00 (RTTNews)

(RTTNews) - The Bank of England is likely to keep its monetary policy unchanged at the first policy meeting held after Prime Minister Theresa May lost the Conservative parliamentary majority at the June 8 general election.

Policymakers are expected to unanimously decide to hold the interest rate at a record low 0.25 percent and the quantitative easing at GBP 435 billion.

June's meeting will be Kristin Forbes' last. After demanding a quarter point rate increase in the past two meetings, she is likely to drop her call on political uncertainty.

The minutes of the meeting will be simultaneously published on Thursday.

The bank reappointed its Chief Economist Andrew Haldane to the Monetary Policy Committee for a further three-year term on Monday.

And following her resignation, Charlotte Hogg's spot is still vacant. The MPC currently consists of only eight members.

The general election has raised the uncertainty over the policy and Brexit. Moreover, ongoing political uncertainty is consuming precious negotiating time with the European Union.

Data on the economic front showed that inflation has accelerated to a near four-year high of 2.9 percent in May. Average earnings grew only 1.7 percent in the three months to April, signaling a squeeze on consumers spending.

The statistical office had revised down its first quarter GDP growth to 0.2 percent from 0.3 percent.

The economy is experiencing a slower growth and higher inflation, a combination that makes policymakers' task difficult. Governor Mark Carney is set to speak at the Mansion House on Thursday evening.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Weidmann Says Govt Bond Purchases Put ECB Dangerously Close To Fiscal Policy (31 min(s), 13 sec(s) ago)
(RTTNews) - Buying government bonds placed monetary policy dangerously close to fiscal policy, Eur ...Full Story»

U.S. GDP Growth Unexpectedly Upwardly Revised To 1.4% In Q1 (58 min(s), 13 sec(s) ago)
(RTTNews) - Economic activity in the U.S. grew by more than previously estimated in the first quar ...Full Story»

U.S. Weekly Jobless Claims Unexpectedly Inch Up To 244,000 (01 hr(s), 09 min(s), 13 sec(s) ago)
(RTTNews) - After reporting a modest uptick in first-time claims for U.S. unemployment benefits in ...Full Story»

U.S. Q1 GDP Growth Unexpectedly Upward Revised (01 hr(s), 35 min(s), 13 sec(s) ago)
(RTTNews) - Economic activity in the U.S. grew by more than previously estimated in the first quar ...Full Story»

U.S. Weekly Jobless Claims Unexpectedly Edge Higher (01 hr(s), 39 min(s), 13 sec(s) ago)
(RTTNews) - After reporting a modest uptick in first-time claims for U.S. unemployment benefits in ...Full Story»

Eurozone Economic Sentiment Near Decade High (02 hr(s), 35 min(s), 13 sec(s) ago)
(RTTNews) - Eurozone economic confidence strengthened more-than-expected to a near decade-high in ...Full Story»

Czech Central Bank Holds Rate Steady (02 hr(s), 57 min(s), 13 sec(s) ago)
(RTTNews) - The Czech central bank kept its key interest rate unchanged on Thursday for a second c ...Full Story»

Iceland Inflation Eases Further In June (03 hr(s), 38 min(s), 13 sec(s) ago)
(RTTNews) - Iceland's consumer price inflation eased for the second straight month in June, fi ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Weidmann Says Govt Bond Purchases Put ECB Dangerously Close To Fiscal Policy

06/29/2017 - 09:44 AM (RTTNews)
(RTTNews) - Buying government bonds placed monetary policy dangerously close to fiscal policy, Eur ...Full Story>>

U.S. GDP Growth Unexpectedly Upwardly Revised To 1.4% In Q1

06/29/2017 - 09:17 AM (RTTNews)
(RTTNews) - Economic activity in the U.S. grew by more than previously estimated in the first quar ...Full Story>>

U.S. Weekly Jobless Claims Unexpectedly Inch Up To 244,000

06/29/2017 - 09:06 AM (RTTNews)
(RTTNews) - After reporting a modest uptick in first-time claims for U.S. unemployment benefits in ...Full Story>>

U.S. Q1 GDP Growth Unexpectedly Upward Revised

06/29/2017 - 08:40 AM (RTTNews)
(RTTNews) - Economic activity in the U.S. grew by more than previously estimated in the first quar ...Full Story>>

U.S. Weekly Jobless Claims Unexpectedly Edge Higher

06/29/2017 - 08:36 AM (RTTNews)
(RTTNews) - After reporting a modest uptick in first-time claims for U.S. unemployment benefits in ...Full Story>>

Binary Options Articles Courtesy of NADEX

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.