- European session review: GBP mixed after BoE's latest policy decision and comments on Brexit negotiations
Market news
European session review: GBP mixed after BoE's latest policy decision and comments on Brexit negotiations
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 06:00 | Germany | Industrial Production s.a. (MoM) | March | 0.3% | -7.5% | -9.2% |
| 06:00 | United Kingdom | BOE Inflation Letter | ||||
| 06:00 | United Kingdom | BoE Interest Rate Decision | 0.1% | 0.1% | 0.1% | |
| 06:00 | United Kingdom | Asset Purchase Facility | 645 | 645 | 645 | |
| 06:00 | United Kingdom | Bank of England Minutes | ||||
| 06:45 | France | Trade Balance, bln | March | -5 | -3.3 | |
| 06:45 | France | Industrial Production, m/m | March | 0.8% | -12.4% | -16.2% |
| 06:45 | France | Non-Farm Payrolls | Quarter I | 0.4% | -2.3% | |
| 07:00 | Switzerland | Foreign Currency Reserves | April | 763.4 | 799.86 | |
| 07:30 | United Kingdom | Halifax house price index 3m Y/Y | April | 3% | 2.7% | |
| 07:30 | United Kingdom | Halifax house price index | April | -0.3% | -0.7% | -0.6% |
GBP traded mixed against its major rivals in the European session on Thursday as market participants weighed the BoE's latest policy decision and the comments of the EU's trade commissioner Phil Hogan on the ongoing Brexit talks. The pound rose against USD, JPY, EUR and CHF, but fell against AUD, CAD and NZD.
The members of the Bank of England's (BoE) Monetary Policy Committee (MPC)voted 9-0 to leave its key interest rate at 0.1 percent, as widely expected. In addition, the asset purchase program was left at GBP 645 bln, though two members voted for a GBP 100 bln increase in the target for the stock of asset purchases. The BoE's governor Andrew Bailey said the policymakers were "keeping all options open" and they "could do more QE" in June.
The EU's trade commissioner Phil Hogan said that, despite the urgency, the EU and the UK were making "very slow progress" on Brexit talks. He also added that he saw no sign of the UK approaching Brexit talks with a plan, but expressed hopes that they could see a change in negotiations next week.
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