# Bank of England holds rates steady amid rising global risks

> 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.

- Date: 2019-06-20 · published 2019-06-20T12:00:00.000Z
- Category: macro · region UK · magnitude medium
- Page: https://feedsoft.ai/events/58851-bank-of-england-holds-rates-steady-amid-rising-global-risks
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

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.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- cnbc.com: https://www.cnbc.com/2019/06/20/bank-of-england-holds-rates-steady.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.