Pound Fell After BoE Left Interest Rate Unchanged

Market Reviews

The British pound fell after the Bank of England left its monetary policy unchanged. The bank left the interest rate at 0.25%, and the asset purchase program - 435 billion pounds. At present, it is projected that economic growth will be 1.7% in 2017, and 1.6% in 2018. 2019 growth forecast was held unchanged at 1.8%.

Retail sales in the euro area rose by 0.5% mom, and by 3.1% yoy in June, much better than expectations of 0.0% mom, and 2.5% yoy. Eurozone PMI services was finalized at 55.4. German PMI services was revised to 53.1.

Initial jobless claims in the US fell by 5 thousand to 240 thousand for the week ending July 29. Continuing claims increased by 3 thousand to 1.96 million for the week ending July 22.