BOE holds rates unchanged at 0.25%. Vote split 6-2 within the MPC.

Sterling immediately lower, mostly because of the statements that followed the rate announcement:

  • BOE cuts growth forecast
  • BOE is concerned with weak wage growth

The GDP for 2017 was revised 1.7% vs 1.9% prior. GDP for 2018 now expected at 1.6% vs 1.7% prior.

Uncertainty over Brexit talks is one of the main components on this UK economic slowdown.