BOE leaves bank rate unchanged at 0.10%

Prior 0.10%

  • Bank rate votes 0-0-9 vs 0-0-9 expected
  • Gilts purchases £875 billion
  • Corporate bond purchases £20 billion
  • Total asset program £895 billion (unchanged)
  • Existing stance of monetary policy remains appropriate
  • Financial markets have remained resilient
  • GDP is projected to recover rapidly towards pre-virus levels over 2021
  • Vaccine rollout is assumed to lead to an easing of virus-related restrictions
  • Outlook for the economy remains unusually uncertain
  • CPI inflation is expected to rise quite sharply towards the 2% target in the spring
  • Does not intend to tighten monetary policy at least until there is clear evidence that significant progress is being made in eliminating spare capacity and achieving the 2% inflation target sustainably

Further Development

analytics601be6f61f6cc.jpg

Analyzing the current trading chart of EUR, I found that the sellers are very consistent and in full control, which is sign that selling power is much stronger then demand power.

Key Levels:

Resistance: 1,2060

Support levels: 1,1930 and 1,1810.

The material has been provided by InstaForex Company – www.instaforex.com

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