BOE meeting goes like clockwork for once – Commerzbank

FXStreet Insights Team FXStreet

After the vote had to be repeated at the previous meeting to reach a decision - a novel occurrence - and after rather unusual voting behaviour had also been noted at previous meetings, yesterday's Bank of England meeting went like clockwork for a change, Commerzbank's FX analyst Michael Pfister notes.

No significant changes to interest rate expectations

"As expected, interest rates remained unchanged, with seven votes in favour of maintaining them and two in favour of cutting them by 25 basis points. Even the decision on balance sheet reduction was largely unsurprising."

"Regarding future decisions, the policymakers did not reveal their hand, leading to no significant changes to interest rate expectations. In short, yesterday's decision was not a major game changer for the pound."

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FXStreet Insights Team

FXStreet

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