The Bank of England (BOE) Monetary Policy Committee (MPC) is prepared to do what’s necessary, said policymaker Ben Broadbent on Tuesday.
Additional quotes
“Keeping all policy tools under review.”
“There is a risk that too low rates does more harm than good.”
“It is possible more easing will be needed.”
“Purpose of QE is to meet our inflation target.”
“QE is not about financing the government.”
Market reaction
GBP/USD remains pressured near 1.2330 amid BOE’s readiness to ease further. The spot has bounced-off fresh session lows of 1.2305. The further upside, however, looks elusive amid broad have demand for the greenback, as risk-off remains at full steam.
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