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The Bank of England (BOE) held interest rates steady on Thursday, with the U.K.’s economic outlook highly uncertain less than 100 days before the country leaves the European Union.
As widely expected the BOE’s nine-member Monetary Policy Committee (MPC), led by Mark Carney, unanimously voted to leave interest rates unchanged at 0.75 percent.
The central bank warned that Brexit uncertainty had “intensified considerably” over the last month, adding falling oil prices were likely to drag inflation below its 2 percent target soon.
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Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years’ experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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