Thursday 13 September 2018 12:03 pm For British businesses, investment intentions “softened modestly” as references to uncertainty on Brexit’s effect on trade increased, according to surveys by the Bank’s agents around the country also published today.The MPC’s minutes suggested that policymakers will closely watch firms’ reactions to uncertainty, such as building up stocks in case of disruption or reassessing transport and logistics operations.The Bank has been forced to balance the global trade uncertainty on both Brexit and US President Donald Trump’s protectionism with its forecasts that domestically generated inflationary pressure is rising. The minutes said that further rate rises at a “gradual pace and to a limited extent” will still be necessary to return inflation to its two per cent target amid a continuing tightening of the labour market. Share Bank of England holds monetary policy unchanged amid “greater uncertainty”on Brexit Jasper Jolly whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comColin Kaepernick to publish book on abolishing the policethegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com The Bank’s monetary policy committee (MPC) raised its main interest rate, bank rate, on 2 August, in only the second increase in the decade since the financial crisis began, but minutes from the latest meeting said that the outlook on Brexit had become less clear in the six weeks since.Mark Carney, whose term as Bank of England governor was this week extended until 2020, led a unanimous vote on the nine-member committee to leave interest rates and the £445bn stock of bonds bought under quantitative easing unchanged.City economists foresee little chance of any further changes to monetary policy in the next six months, with the UK set to leave the EU on 29 March 2019, and no clear progress made towards a deal between the two sides on determining the future relationship or securing a smooth transition.The Bank’s economists pointed to an increase in bets on greater volatility in the sterling-dollar market as a sign that investors are preparing for a turbulent period. There were also signs of firms hedging against a fall in interest rates, the response many economists expect if the UK leaves the EU without a deal.The MPC also said that new protectionist measures from the US and China will have a “more negative impact on global growth than was anticipated” in August, if the threats are implemented, amid “tentative signs” that the tariffs imposed are already having a negative effect on the US economy, with a potential knock-on effect on the British economy. Tags: Bank of England Brexit Mark Carney People Quantitative easing whatsapp The Bank of England today left monetary policy unchanged amid “greater uncertainty” in markets on the Brexit process and a worsening global trade outlook.
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