Carney More Optimistic About Rate Hikes After Brexit
Arslan Butt•Friday, May 3, 2019•1 min read
If Brexit goes according to plan, without harming the economy much, BoE Governor has stated that markets can look forward to multiple rate hikes within the next three years. He remained hopeful that after Brexit, the economy would be able to get a boost through business investment.
This would reduce dependence on consumer spending as the main growth driver for the economy and get the British economy back on track after Brexit. The Bank of England is holding off on rate hikes presently due to Brexit uncertainties.
On Thursday, all policymakers voted unanimously to hold interest rates at 0.75%. The BoE has also confirmed that this wait and watch approach until after Britain exits the EU holds little risk to economic health.
So far, GBP/USD has remained unaffected by the BoE’s interest rate decision and continues to trade around 1.30 on Friday.
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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