Breaking: Bank of England leaves policy settings unchanged as expected

FXStreet Team FXStreet

The Bank of England's (BoE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% and kept the Asset Purchase Facility steady at £895 billion at the end of September policy meeting, as was widely expected.

Follow our live coverage of the BoE policy announcements and the market reaction.

Key takeaways:

BoE votes 9-0 for rate decision; votes 7-2 for QE decision.
Inflation set to rise slightly above 4% this year.
Some developments strengthen case for modest tightening.
Considerable uncertainties remain.
Most cost pressure indicators remain ‘elevated’.
Saunders, Ramsden preferred to reduce gilt buy target to £840 billion.

Market reaction

The GBP/USD pair maintained its strong bid tone near the 1.3680-85 region, or session tops and had a rather muted reaction to the BoE announcement.

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FXStreet

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