Chances of Disorderly Brexit Reduced According to BoE

Last week’s breakthrough in Brexit talks has reduced the risk of Britain leaving the European Union in a disorderly way and may boost economic confidence, the Bank of England said on Thursday after it left interest rates unchanged.BoE policymakers voted unanimously to keep rates at 0.5 percent as expected, a month after raising them for the first time in more than a decade.Domestic economic data suggested the economy might be slowing slightly into the end of the year, but finance minister Philip Hammond’s annual budget in November should modestly boost growth over the next few years, and Brexit talks appeared to be moving forward, the BoE said.

Source: Bank of England says risk of disorderly Brexit reduced by progress in talks – Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
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 Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. 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.