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BoE leaves policy rate unchanged at 0.75% with unanimous vote as expected, GBP weakens

2019-06-20 19:05

  • BoE keeps policy rate steady at 0.75% as expected.

  • Bank says tightening of monetary policy at gradual and limited pace needed.

  • Notes downside risks to growth have increased since May. 



In a widely expected decision, the Bank of England's Monetary Policy Committee held the policy rate unchanged at 0.75% with a unanimous vote. The asset purchase facility remained steady at €435 billion as well.



With the initial market reaction, the British pound came under a renewed pressure and weakened against both the dollar and the euro.



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