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In a widely expected decision, the Bank of England's Monetary Policy Committee held the policy rate unchanged at 0.75% with a unanimous vote. The asset purchase facility remained steady at €435 billion as well. Now markets are waiting for Governor Carney to deliver his remarks at a press conference. Below are some key takeaways from the monetary policy statement.
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BoE press conference: Governor Mark Carney speech live stream - Feb. 7.
Bank of England Governor Mark Carney is scheduled to deliver a speech on the monetary policy outlook at after 12:30 GMT after the BoE publishes its interest rate decision alongside the Quarterly Inflation Report.
About the BOE interest rate decision
BOE Interest Rate Decision is announced by the Bank of England. If the BoE is hawkish about the inflationary outlook of the economy and raises the interest rates it is positive, or bullish, for the GBP. Likewise, if the BoE has a dovish view on the UK economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.