5/6/2021 12:43:53 PM GMT | By Eren Sengezer
Following the Bank of England s (BoE) decision to leave the policy rate and the Asset Purchase Facility unchanged at 0.1% and £895 billion, respectively, BoE Deputy Governor Ben Broadbent is delivering his remarks on the policy outlook.
Key quotes The BoE now expects more people to move off furlough and back into employment when the scheme comes to an end. We still see spare capacity in the UK labour market. Big compositional effects and base effects will distort wage growth data in coming months.
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EUR/GBP Price Analysis - Sliding Towards Important Support as BoE Policy Update Nears
2021-05-05 09:34:00
Nick Cawley,
Strategist
Euro and British Pound (EUR/GBP) Price, News, and Analysis:
EUR/GBP unable to break higher and now eyes a recent multi-week low.
Thursday’s BoE announcement may see the UK bond-buying program slowed.
The latest Bank of England monetary policy announcement tomorrow (Thursday) at 12:00 BST, may well see the central bank discuss ways to slow down the current rate of bond purchases for the rest of the year, giving the meeting a mildly hawkish outlook. The UK’s GBP875 billion bond-buying program is set to expire at the end of the year, but if the central bank continues to buy bonds at a current rate of GBP4.4 billion a week, it will reach its target by the end of August.
4 Min Read
LONDON (Reuters) - The Bank of England is likely to ease its foot off the stimulus pedal and reduce its pace of bond purchases next week as Britain’s economy appears to be bouncing back sharply from its COVID pandemic slump.
FILE PHOTO: A person is silhouetted as he walks past The Bank of England, amid the outbreak of the coronavirus disease (COVID-19), in London, Britain, November 5, 2020. REUTERS/John Sibley
Retailers and restaurants are reopening, retail sales exceeded pre-pandemic volumes in March and purchasing managers’ indexes in April hit their highest since 2013 as a rapid vaccination programme helped reduce a devastating flood of COVID-19 cases at the start of the year to a trickle.