Seeking Alpha

BOE again united in keeping policy on hold; U.K. unemployment drops

  • As expected, the Bank of England's Monetary Policy Committee voted unanimously to keep interest rates at 0.5% and against more quantitative easing at a meeting earlier this month.
  • The BOE sees no immediate need to raise interest rates if its 7% unemployment threshold for such a move is reached soon. And when the time does come to increase rates, "it would be appropriate to do so only gradually," the bank says. (PR)
  • As it happens, U.K. unemployment for the three months to November dropped to 7.1% from 7.4% previously and came in below estimates of 7.3%. (PR)
  • The pound spikes and is +0.4% at $1.6536; the FTSE is flat.
  • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK
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