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.
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.