Bank of England Prepares to Cut Rates into Uncharted Territory

The Bank of England looks ready to cut interest rates for the first time since 2009 on Thursday, seeking to stop Britain’s vote to leave the European Union from kicking the country into recession.

It may even go a step further and pump billions of pounds into financial markets.

Economic surveys have pointed to a sharp slowdown since the BoE wrong footed markets just over two weeks ago, when it kept rates on hold while it considered a bigger, unspecified package of stimulus, which policymakers said was likely in August.

Reuters

Gold Edges Higher as US Manufacturing, Construction Numbers Disappoint

Statement by Glenn Stevens, Governor: Monetary Policy Decision

Irish Manufacturing Growth Slips to Three-Year Low on Brexit – PMI

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.