Today’s Bank of England Monetary Policy Decision

The US Federal Reserve on Wednesday said it was on track to end its pandemic-era bond purchases by March, as the central bank kept interest rates at historic lows.

The Federal Open Market Committee decided to keep the target range for the federal funds rate at 0.00% to 0.25%.

However, the Fed said it would reduce its purchases of Treasury securities by USD20 billion per month and for mortgage-backed securities by USD10 billion, from the current USD120 billion a month that the central bank currently is buying.

This paves the way for the end of its pandemic-era bond purchases in March, as policymakers at the Fed envisage three interest rate hikes by the end of 2022, with further increases in rates expected in both 2023 and 2024.

boohoo on Thursday became the latest UK retailer to warn that the rise in the Omicron variant of Covid-19 is harming sales ahead of Christmas.

The AIM-listed online fast-fashion retailer cut annual sales and margins guidance due to Omicron uncertainty and as a high product returns rate hits net sales. It also has seen “continued disruption” hit online deliveries alongside persistent virus-related cost inflation.

Up next, the Bank of England announces its latest monetary policy decision at 14.00 GMT+2, before the European Central Bank at 15.30 GMT+2.

The UK interest rate decision later today is poised on a knife-edge, with the implications of the variant, high inflation, continued pressure given tightness in the labour market, and supply chain bottlenecks all being taken into consideration. While any such hike would likely be moderate, and with a time lag until it washed through to the wider economy, it would nonetheless signal that inflation needs to be tackled. Even so, the current uncertainty regarding the variant threatens to derail the UK’s economic recovery and the consensus remains that the Bank of England will sit on its hands until the February meeting when the picture may be clearer.

We want to hear from you! Stellar support available 24/5

Company

Markets

Trading & Tools

Education Centre

Partner with us

Support

Errante Securities (Seychelles) Ltd (the “Company”) is regulated by the Seychelles Financial Services Authority (FSA) under license number SD038.

The services on the Website (errante.com) are provided and regulated by the Company incorporated in Seychelles with company number 8425493-1 with registered office at Room 12, Kingsgate House, Victoria, Mahe Seychelles. Circumvenio Holdings Ltd (Registration No. HE406903) provides content and operates the business, office address: with registered office at 30 Karpenisiou Street, 1077 Nicosia, Cyprus and business address at 67, Spyrou Kyprianou, 1st floor, 4042, Limassol Cyprus. Circumvenio Holdings Ltd is wholly owned by Errante Securities (Seychelles) Ltd.

The card transactions are processed by our subsidiary entity, Circumvenio Holdings Ltd (Registration No. HE406903), with registered office at 30 Karpenisiou Street, 1077 Nicosia, Cyprus and business address at 67, Spyrou Kyprianou, 1st floor, 4042, Limassol Cyprus. Transactions made through Paysafe Group Limited are processed through Errante Securities (Seychelles) Ltd.

Errante brand other jurisdictions:

Notely Trading Limited (www.errante.eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license no. 383/20.

Errante is a Trademark owned by the Errante Group. All other trademarks that appear on this website are the property of their respective owners.

Risk Warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. For more information, please read our Risk Disclosure Statement.

Restrictions to accessing our services may apply to individuals being a national of, or a resident of, the following — but not limited to — countries: Afghanistan, Albania, Belgium, Canada, Iraq, North Korea, Panama, Syria, USA, Yemen and Zimbabwe.

© 2024 Errante Securities (Seychelles) Ltd. All rights reserved.