BoE Stands Still Amidst Fog of Brexit

22 March, 2019

The Bank of England unanimously stood pat on UK interest rates at 0.75 percent, as Brexit uncertainties continue to swirl around the UK outlook. While the Federal Reserve and European Central Bank have likened monetary policy adjustments to taking small steps in a dark room, Mark Carney and co. appear to have their feet bound tight, unable to move amid arguably more pronounced and immediate risks to the UK economy.

The UK central bank, like global markets, are still left waiting for clarity on when and how Brexit will happen, even as the scheduled departure date remains as March 29 at the time of writing. Should the remaining week till the current deadline offer a concrete resolution to the Brexit saga, only then can the BoE have a clearer outlook on monetary policy, and global investors have a firmer handle on the Pound.


Source link   Presented by FXTM

GBP/USD remains capped below 1.2600

Manages to recover on broad USD weakness, weaker US rates. Bearish bias intact amid dovish Carney's speech and weak UK fundamentals...

GBP/USD remains vulnerable

The GBP/USD pair traded with a mild negative bias for the third consecutive session on Friday and extended this week's rejection slide from...

GBP risks losing further 5%

Now that United Kingdom traders are returning back to office following a public holiday, we should expect for the fallout from the Brexit Party's...


GBP/USD clings to recovery gains

A modest USD pullback from two-year lows helped bounce of multi-month lows. The recovery got an additional boost following the release of UK...

Pound went below 1.27 on Brexit fears

The British Pound descended deeper into the abyss this morning with prices falling below $1.27 for the first time since January 2019 as uncertainty...

Sterling struggles to nurse wounds

The return of domestic political turmoil in the United Kingdom has led to a flurry of selling momentum for the British Pound, which fell over 300 pips...


Sterling edges down

There were no surprises in the Bank of England's policy decision today to leave interest rates unchanged at 0.75%. The real surprise was the bank...

Pound awaits latest Brexit outcome

With 2 days to go before the EU summit regarding Brexit developments, time is running out for the UK government to come up with a solution to break the...

Rebound appears capped near 1.3200

GBP on the back foot as Parliamentary is set to vote on alternative Brexit options. Awaits fresh Brexit clarity while May’s future also remains a key decisive...

  


Share it on:   or