BOE announces its latest monetary policy decision – 21 March 2019
- Prior 0.75%
- Official bank rate votes 0-0-9 vs 0-0-9 expected
- Asset purchase target £435 billion
- Corporate bond target £10 billion
Here’s the statement details:
- Underlying inflation broadly on track with forecast
- Employment growth could now moderate significantly
- Brexit could prompt policy moves in either direction
- Gradual, limited tightening still probably needed
- Monetary response to Brexit is not automatic and could be in either direction
- Brexit uncertainties continue to weigh on confidence, short-term economic activity
Nothing too significant from the BOE here as the main talking point remains about Brexit and the central bank pretty much still has its hands tied as the Brexit saga continues to play out. The only way the BOE is able to decide on things is if the Brexit fog clears, and that doesn’t appear like it will happen any time soon.
The pound is relatively unchanged from the decision and statement here. Cable still sits at the lows for the day now at 1.3112.
