A quarter point increase in benchmark interest rate to 0.75 percent by Bank of England Governor Mark Carney was as expected by the market. The hike has been second increase in a decade and highest since 2009.
With all nine members unanimously voting for a hike (9-0), the market was caught by surprise. The attempt is probably to tame inflation before Britain leaves the European Union.
The committee wrote that it ‘continues to recognize the economic outlook could be influenced significantly by the response of households, businesses and financial markets to developments related to the process of EU withdrawal’.
18-Apr-2019 6:45 PM
After posting superlative gains in March, due to resurgent FII inflows, rupee has been range-bound
16-Apr-2019 6:10 PM
With a look at Silver chart shows that price action took resistance at $14.92 levels in July’18, October’18
15-Apr-2019 5:46 PM
A look at the daily chart is showing that USDINR is trading in between the range of a downward sloping trend channel
12-Apr-2019 6:53 PM
Indian exporters are a worried lot these days. USDINR around 69, EURINR at 78 and GBPINR near 90-91
11-Apr-2019 6:26 PM
10-Apr-2019 5:55 PM
Pound has been sitting at the edge of the sword with EU and Britain deciding to extend