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Bank of England keeps all things steady.
With the year wrapping up there were no surprises at the end of it from the Bank of England as they decided not to change the precedent of altering rates at the end of the year.
The vote was unanimous across the bank to keep rates at 0.75% whilst the forecasts had a slightly dovish tilt as they were revised down for growth and inflation. Unsurprisingly as well the bank warned that the greatest threat to growth at the moment comes from Brexit uncertainty. The other news beyond the carnage at Gatwick airport was that Parliament has confirmed that the debate on Brexit will begin on January 9th.
It’s been a tumultuous year for sterling, trading above the dizzying heights of 1.40 back in April before sinking to the current lows we see at the moment. We’ve had Chequers Agreements, cabinet reshuffles, resignations, the Beast from the East and even a World Cup Semi Finals. The last shows that anything can happen and there is raft of events next year that could do the same.