💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Bank of England united in keeping policy on hold

Published 11/20/2013, 04:46 AM
GBP/USD
-
Investing.com - Bank of England officials remained in agreement over how long they should stick to their ultra-loose monetary policy, according to the minutes of its November meeting published earlier in the day.

Minutes from the BoE’s November 7 meeting showed that all nine Monetary Policy Committee members voted to hold interest rates steady at 0.5%. All nine committee members also voted to hold the asset-purchase program at GBP375 billion.

The central bank said the U.K. economic recovery picked up momentum since August but the MPC agreed none of the three guidance knockouts had been breached.

The minutes showed that there may be a case for not hiking rates immediately after the jobless rate falls to the 7% target rate.

Following the release of the minutes, the pound was little changed against the U.S. dollar, with GBP/USD holding flat to trade at 1.6120.

Meanwhile, European stock markets remained lower. London’s FTSE 100 dipped 0.15%, the EURO STOXX 50 shed 0.1%, France’s CAC 40 eased down 0.1%, while Germany's DAX was flat.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.