Free Trial
US EURODLR FUTURES

Approaching Friday Highs In Continued Reversal

GLOBAL POLITICAL RISK

Week Ahead 3-9 Oct

LNG

EU Maintains Strong LNG Imports

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI: BOE Hikes 50bps, Gets Ready To Start Gilt Sales In Sep

(MNI) London
Bank of England MPC voted 8-1 for a 50bps hike at its August meeting, telling Bank staff to ready for active gilt sales in September

The Bank of England Monetary Policy Committee split eight-to-one in support of a 50 basis point rate hike at its August meeting, despite forecasting that the UK was heading into recession, and told Bank staff to get ready to begin gilt sales in September.

MPC member Silvana Tenreyro voted for a 25 bps hike with the forecasts in the quarterly Monetary Policy Report showing that inflation would heavily undershoot the 2.0% target in three years's time, plunging from a 13.3% peak in October 2022 to just 0.76% in three years' time on market rates.

Keep reading...Show less
557 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

The Bank of England Monetary Policy Committee split eight-to-one in support of a 50 basis point rate hike at its August meeting, despite forecasting that the UK was heading into recession, and told Bank staff to get ready to begin gilt sales in September.

MPC member Silvana Tenreyro voted for a 25 bps hike with the forecasts in the quarterly Monetary Policy Report showing that inflation would heavily undershoot the 2.0% target in three years's time, plunging from a 13.3% peak in October 2022 to just 0.76% in three years' time on market rates.

Keep reading...Show less