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Bank of England leaves policy rate unchanged at 0.75% in November as expected

Thursday,   07-Nov-2019   05:43 PM (IST)

In a widely expected decision, the Bank of England's Monetary Policy Committee held the policy rate unchanged at 0.75% with a unanimous vote. The asset purchase facility remained steady at €435 billion as well. On a dovish note, 2 members of the Monetary Policy Committee voted to cut the policy rate. With the initial market reaction, the GBP/USD pair came under strong bearish pressure and was last down 0.2% on the day at 1.2825. Below are key takeaways from the policy statement.