BoE leaves policy rate unchanged at 0.75% with unanimous vote as expected, GBP weakens
- 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.
This article is published only for general use basic informatory purposes and should not be considered or depended on as a financial or investment advice. Investors should make sure that they understand the risks and seek independent financial advice at all times. CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE.