BoE Leaves Rates Unchanged, GBP Moves Lower 


Talking Points:

- BoE leaves rates unchanged at 0.50% and the asset purchase target at 375B as expected

- Market participants are left without a policy statement once more

- GBP/USD remains relatively unchanged, slightly lower

The Bank of England left rates unchanged as expected, but refrained from releasing a policy statement once more thus leaving market participants in the dark. With October Services PMI hitting all-time highs earlier this week, it is only a matter of time before the central bank comments on the recent positive developments.

Traders will be waiting for the central bank inflation report on November 13th and meeting minutes on November 20th for further insight.

GBP/USD (5-Minute Chart)

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BOE_Leaves_Rates_Unchanged_GBP_Moves_Lower_body_Picture_2.png, BoE Leaves Rates Unchanged, GBP Moves Lower 

Source: FXCM Marketscope

The Pound continues to move slightly lower against the Dollar as we near the ECB rate decision, Draghi press conference and U.S. GDP.

Event Risk Ahead!

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BOE_Leaves_Rates_Unchanged_GBP_Moves_Lower_body_Picture_1.png, BoE Leaves Rates Unchanged, GBP Moves Lower 

Gregory Marks, DailyFX Research Team

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