UK's BoE keeps rates unchanged - but 2 dissenters argue for a cut!

Published date: 07/11/2019

As widely expected, the UK's BoE kept rates unchanged, which currently stands at 0.75%, but what we did not expect were dissenters arguing for rate cuts as both Saunders and Haskel have.  Indeed, with Saunders having previously been a hawk, this is naturally as surprise and GBP has taken a hit as some policymakers are now leaning towards an easing bias again.  

Up until now, the perception was that if Brexit was resolved, then some modest tightening would be required, but clearly with the whole process of leaving the EU having taken so long, the negative effects have prompted some to soften their stance and push for a rate cut - which is pretty much in line with other major central banks around the world with the exception of the BoC in Canada.


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