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Pound Falls and Bank of England Warns of Brexit Postponement

2019-09-19 12:02 pm | Resource: News | No Views : 33

 Pound Falls and Bank of England Warns of Brexit Postponement

The pound hit lows against its major counterparts on Thursday, and remained in the red as the Bank of England warned that "another period of uncertain uncertainty" over Brexit could lead to a drop in inflation and disrupt demand. The MPC kept the benchmark interest rate at 0.75% and the bond portfolio at £ 435 billion.

Bank of England maintains interest rate

The Bank of England has decided to keep interest rates and quantitative easing amid growing uncertainty before the Brexit. The Monetary Policy Committee, headed by Governor Mark Carney, unanimously decided to keep the interest rate at 0.75 per cent.

All nine committee members voted to hold corporate bond purchases of £ 10 billion and government bond purchases of £ 435 billion. Policymakers saw the current position of monetary policy as appropriate.

The MPC noted that increased uncertainty about the nature of Brexit means that the economy can follow a wide range of paths in the coming years. An appropriate monetary policy response will depend on balancing the effects of Brexit on demand, supply and the pound exchange rate, the bank said.

The bank said developments associated with Brexit make UK economic data more volatile. The economy is expected to grow by 0.2 percent in the third quarter, and inflation is expected to remain just below 2 percent in the near term.

Pound Trading
  • The exchange rate fell 0.15% to $ 1.24536 at 1:29 CET after hitting $ 1.24381, the lowest level in two days.
  • The euro rose 0.5% to £ 0.88777. It rose to £ 0.8894, the highest in three days.
  • The pound was down 0.61% against the Japanese currency, with GBP / JPY trading at 134.45.
  • The British currency fell against the Swiss franc by 0.85% to trade at 1.23342 levels.


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Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

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