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The Bank of England voted unanimously to hold its policy rate at 0.75%, while cutting its UK growth forecast to zero for the second quarter of 2019. The decision cited global trade risks and the possibility of a no-deal Brexit.
Sterling extended its losses against the euro and the dollar after the announcement.
A weaker growth outlook and a pushed-back path for rate hikes reduce sterling's yield appeal, which weighs on GBP/USD. For feed buyers the effect is indirect, through currency-driven moves in UK import costs.
cnbc.comElliot SmithJun 20, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
