Latest interest rate policy decision now out 3 Aug
- bank rate 0.25% as prev
- asset purchase target GBP 435bln
- vote 6-2 as exp vs 5-3 prev
GBPUSD down to 1.3185 on the news, now 1.3166. EURGBP rallies to post 0.9003
Also out the MPC Minutes:
- Brexit - expecting smooth transition
- 6-2 for unchanged rates & 8-0 for unchanged QE at GBP435B
- TFS to be discontinued end of Feb 2018 (8-0)
- MPC now expect two rather than one hike over forecast horizon
- Currency depreciation effect seen having continued upward influence on inflation
- Household consumption could be higher than assumed in May Report
- Global economic buoyancy offsetting domestic uncertainty
- McCafferty & Saunders voted for rate rise of 25bp
- Trade off is seen eliminated over forecast horizon
- All on MPC agree rise in Bank rate should be 'gradual' and 'limited'
Can't give you the link as the BOE site seems to have crashed. I blame the strikers. Power to the people !
Update: Link to full Minutes now here
Nick has the BOE inflation report here
Presser at 11.30 GMT here
