Bank of England to stay on hold as it weighs Brexit outlook

19.12.2019 - Evdokimov Roman
Bank of England to stay on hold as it weighs Brexit outlook

The Bank of England is looking to pause from making rates decisions as it weighs up Brexit’s outlook on Thursday. Flashes of hopes rose after the recently concluded election favoring a graceful Brexit but Prime Minister Boris Johnson seems to dim the bright outlook as he revives fears of a disorderly exit from the European Union.

Economists predict that the BoE will announce later that it will keep its interest rates at 0.75%. Most of them think there will be a repeat of November’s 7-2 vote by policymakers in favor if no change.

However, the BoE might have other plans come 2020. They can lower rates, keep them on hold, or finally raise the rates, all depending on how the Brexit saga unfolds.

“It’s pretty murky. Things could be very uncertain in the second half of 2020,” James Smith, an economist with ING, said.

“As plenty of Brexit uncertainty still surrounds the 2020 outlook, we think the BoE is likely to retain its dovish bias into next year,” Allan Monks, an economist with JP Morgan, said.


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 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

Help with deposit?