- Analytics
- News and Tools
- Market News
- BoE eases foot off monetary policy accelerator - Wells Fargo Securities
BoE eases foot off monetary policy accelerator - Wells Fargo Securities
ActionForex reports that analysts at Wells Fargo Securities discuss the Bank of England's (BoE) latest policy update.
"The Bank of England (BoE) kept its key policy parameters at today’s announcement, keeping the Bank Rate at 0.10% and maintaining its asset purchase target at £895 billion. However, in a modest tweak towards less accommodative monetary policy the BoE reduced the pace of its weekly asset purchases by £1 billion per week to £3.44 billion per week."
"The central bank now sees an earlier economic recovery, lifting its GDP growth forecast for 2021, but lowering its GDP growth forecast for 2022. So long as the economy continues to improve we believe a further moderate tapering of asset purchases is likely at the August announcement. At this time, however, we do not expect an initial policy interest rate increase until the first half of 2023."
"We view today’s announcement as a modest upside to our outlook for the pound. At the same time, we also view the announcement as broadly consistent with our medium-term profile which already anticipates modest gains in the pound versus the U.S. dollar over time, and a stronger pound versus the euro."
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
