James Smith, developed markets economist at ING, points out that Bank of England’s policymakers stuck to a cautious stance today while keeping interest rates on hold at their final meeting of 2019.
Key Quotes
“Admittedly two rate-setters again voted for a rate cut this time, and it’s not inconceivable that another member joins them at subsequent meetings. But the statement suggests the broader committee is happy to stay in “wait-and-see” mode, and for now, doesn’t buy into the ‘insurance rate cut’ argument being promoted by BoE doves.”
“But it’s fair to say the economic outlook for 2020 is fluid.”
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