Central Banks

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The Bank of England nbsp;voted 9 to 0 to maintain Base Rate at 0.75%. The asset purchase target of £435 billion with a corporate bond target £10 billion for bond purchases was voted unaminous.

BoECarney

Highlights:

Bank of England announces 21 March 2019 monetary policy decision

  • Unchanged at prior 0.75%
  • Official bank rate votes 0-0-9 vs 0-0-9 expected
  • Asset purchase target £435 bn vs £435 bn expected
  • Corporate bond target £10 bn vs £10 bn expected

Statement Breakdown 

  • 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

Source: Bank of England

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