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Bank of England (BOE) to keep rate at 0.25%

Bank of England keeping its rate at 0.25%

Today, the Bank of England will likely be maintaining its bank rate as low as 0.25%, while, in the meantime, leaving on hold its quantitative asset-purchase scheme.

Bank of England to release inflation data

The bank will also publish its inflation report, amid a weaker sterling despite the upside pressures on the prices.

While the economy in the U.K shows resilience, following the Brexit talks, the sterling traded at $1.2683, 0.18% higher.

Gold higher in EU session

During the early European trading session, the precious metal, gold, traded higher, while the U.S. dollar dropped aggressively, following the FED's weak signal for a rate hike.

In the New York Mercantile Exchange on the Comex division, April's gold delivery traded higher to $1,219.20 a troy ounce.

Silver futures for March reached the $17.63 a troy ounce, rising 1.1% or 18.3 cents, platinum approached $1,008.25, appreciating 0.9%, whereas copper futures stabilized at $2.714 a pound.

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ArgusFX Review

Thursday, 02 Feb, 2017 / 10:08

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Source : https://www.argusfx.com/en/research-education/market-analysis/news/bank-of-england-boe-to-keep-rate-at-0.25

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