BOE leaves interest rates unchanged at 0.50%

In its latest monetary policy meeting, the BOE MPC voted unanimously to keep rates unchanged at 0.50% and asset purchase facility at £435 billion and corporate bond target at £10 billion.

Key highlights of the monetary policy statement:

   •  UK budget to lessen GDP drag relative to previous plans
   •  EU/UK Progress reduces chance of disorderly Brexit
   •  It's too early to fully gauge impact of Nov rate hike
   •  Any rate increases will be limited and gradual
   •  Brexit progress may support consumer, business confidence
   •  Q4 economic indicators have been softer than expected
   •  Modest tightening is likely in the next few years given outlook
   •  Inflation close to its peak, will decline to 2% target over the medium term