Bank of England to retain interest rate level in pre-election meeting
07.11.2019 - Evdokimov Roman
Bank of England to retain interest rate level in pre-election meeting

The Bank of England signals to keep interest rates steady on Thursday as the snap election on Dec. 12 draws near.

Governor Mark Carney though is not giving an explicit answer as to where interest rates are going in the next couple of weeks.

“It’s all about nuance and emphasis,” Philip Shaw, Investec economist said.

Carney, however, was almost certain to recognize a weaker global and domestic outlook in the economy, but rate cuts are not on his cards as of date. He is due to step down at the end of January next year.

Britain’s central bank has not followed the U.S. Federal Reserve and the European Central Bank by cutting rates to alleviate the global economic slowdown sparked by the U.S.-China trade war.

British inflation, meanwhile, is close to BoE’s target at 2% and its recent forecasts on Thursday could go higher over the next two to three years, which is the time BoE thinks that rate rises will be put to action.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from Umarkets.com or Market Solutions limited." Cookies notification: “We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Continue