Breaking: Bank of England leaves policy settings unchanged as expected
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The Bank of England's (BoE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% and kept the Asset Purchase Facility steady at £895 billion at the end of September policy meeting, as was widely expected.
Follow our live coverage of the BoE policy announcements and the market reaction.
Key takeaways:
- BoE votes 9-0 for rate decision; votes 7-2 for QE decision.
- Inflation set to rise slightly above 4% this year.
- Some developments strengthen case for modest tightening.
- Considerable uncertainties remain.
- Most cost pressure indicators remain ‘elevated’.
- Saunders, Ramsden preferred to reduce gilt buy target to £840 billion.
Market reaction
The GBP/USD pair maintained its strong bid tone near the 1.3680-85 region, or session tops and had a rather muted reaction to the BoE announcement.
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