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January 2016

Bank of England rate at 0.5%

Published: Thursday 14 January 2016

Super Thursday’s BoE rate decision saw interest rates unchanged at 0.5%, as was largely expected by economists. The Monetary Policy Committee (MPC) voted by a majority of 8-1 to maintain the Bank of England rate at 0.5%, with Ian McCafferty the only member opting for a rate rise, as in prior meetings. The MPC also voted unanimously to maintain QE bond purchase at a total of £375 billion, as expected. The news saw the Pound recover from lower levels this morning.
 
ECB minutes signal compromise on future actions. "10 bps rate cut in Dec left room for further reduction if necessary"
 
Elsewhere in the United States, jobless claims numbers were marginally worse than expected.

Latest FX news by Chris Verdet


 
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