"The Bank of England does have tools to calm dysfunctional markets," Jonathan Haskel, a member of the Monetary Policy Committee (MPC) of the BoE, said on Thursday.
"Returns on real estate may not be very rosy due to the long-term impact of COVID," Haskel added. Regarding the economic outlook, Haskel said he was worried about bout the economy getting stuck and recovering slowly.
Market reaction
The British pound, which came under pressure after this week's Brexit talks with EU produced no positive outcomes, struggles to find demand on Thursday. As of writing, the GBP/USD pair was down 0.35% on a daily basis at 1.2688.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD: Next on tap comes the 200-day SMA
There was no respite for the selling pressure in AUD/USD, with the pair this time breaking below the key 0.6700 support level and opening the door to a potential visit to the key 200-day SMA at 0.6626.
EUR/USD backslides to a ten-week swing low ahead of ECB rate call
EUR/USD is in freefall, plummeting to multi-week lows as the Euro continues to crumple ahead of the European Central Bank’s upcoming rate call on Thursday. The ECB is widely expected to trim interest rates by a quarter of a percent, or 25 bps.
Gold ignores US Dollar strength, march toward YTD high
Gold prices rose during the mid-North American session on Wednesday, underpinned by the drop in US Treasury yields and the shrug off recent US Dollar strength. Expectations that major central banks would cut rates amid soft inflation readings weighed on bond yields and boosted the non-yielding metal.
Australian unemployment rate expected to stabilize for third consecutive month in September
The Australian Unemployment Rate is foreseen stable at 4.2% in September. Employment Change is expected at 25K, focus will be on the details. AUD/USD is technically bearish, so any data-inspired spike may attract sellers.
British inflation dips to 1.7% in September
And speaking of inflation and Europe, inflation in Britain not only fell below 2% in September but came in significantly lower than expected (1.7%y-o-y vs 1.9% expected).
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.