BOE leaves bank rate unchanged at 3.75% in April meeting, as expected
- Prior 3.75%
- Bank rate vote 0-8-1 vs 0-8-1 expected (Pill voted to raise bank rate by 25 bps)
- Statement details to follow..
Coming into the meeting, traders were pricing in ~70% odds for a rate hike in June with the first full 25 bps rate hike priced for July. As for the year, traders were pricing in ~70 bps of rate hikes by the time we get to the final December meeting.
More to come..
This article was written by Justin Low at investinglive.com.