Economist at UOB Group Lee Sue Ann reviewed the latest BoE event. Key Quotes “As expected, all nine members of the Monetary Policy Committee (MPC) voted to keep the main lending rate at 0.10%, with the central bank having cut rates twice from 0.75% since the beginning of the COVID-19 pandemic. The MPC also voted unanimously to maintain target for the total stock of its bond purchases at GBP745bn. However, much of the attention was on the reveal that the BOE and Prudential Regulation Authority will begin work in 4Q20 on the operational considerations around a move below zero.” “The overnight commentary from the BOE reinforces our view that the BOE is ready to embark on further efforts to counter the economic slump. It is now a case of when, not if, the MPC eases again. Having said that, we think it is more likely to push the effective lower bound (ELB) by cutting the Bank Rate once more this year, but keep rates positive. A decision on that is possible at the next 5 November meeting, when we also expect the BOE to boost its bondbuying stimulus program by another GBP100bn.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD drops to fresh lows in sub-1.1800 levels, focus on Lagarde FX Street 2 years Economist at UOB Group Lee Sue Ann reviewed the latest BoE event. Key Quotes “As expected, all nine members of the Monetary Policy Committee (MPC) voted to keep the main lending rate at 0.10%, with the central bank having cut rates twice from 0.75% since the beginning of the COVID-19 pandemic. The MPC also voted unanimously to maintain target for the total stock of its bond purchases at GBP745bn. However, much of the attention was on the reveal that the BOE and Prudential Regulation Authority will begin work in 4Q20 on the operational considerations around a move below zero.” “The… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.