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BOE’s Broadbent: MPC is prepared to do what's necessary

The Bank of England (BOE) Monetary Policy Committee (MPC) is prepared to do what's necessary, said policymaker Ben Broadbent on Tuesday.

Additional quotes

“Keeping all policy tools under review.”

“There is a risk that too low rates does more harm than good.”

“It is possible more easing will be needed.”

“Purpose of QE is to meet our inflation target.”

“QE is not about financing the government.”

“Not too concerned about monetary financing.”

“Policy is focused on meeting inflation remit.”

Market reaction

GBP/USD remains pressured near 1.2330 amid BOE’s readiness to ease further. The spot has bounced-off fresh session lows of 1.2305. The further upside, however, looks elusive amid broad have demand for the greenback, as risk-off remains at full steam.

Author

Dhwani Mehta

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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