BOE leaves interest rates unchanged at 0.50%
|In its latest monetary policy meeting, the BOE MPC voted unanimously to keep rates unchanged at 0.50% and asset purchase facility at £435 billion and corporate bond target at £10 billion.
Key highlights of the monetary policy statement:
• UK budget to lessen GDP drag relative to previous plans
• EU/UK Progress reduces chance of disorderly Brexit
• It's too early to fully gauge impact of Nov rate hike
• Any rate increases will be limited and gradual
• Brexit progress may support consumer, business confidence
• Q4 economic indicators have been softer than expected
• Modest tightening is likely in the next few years given outlook
• Inflation close to its peak, will decline to 2% target over the medium term
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