BOE MPC Minutes: Sterling increasingly likely to fall in case of Brexit

16 June 2016, 13:11
Sherif Hasan
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Bank of England MPC meeting Minutes now poublished 16 June 2016

  • fall perhaps sharply after a vote to Leave due to worsening terms of trade, lower productivity, higher risk

BOE now finally getting the picture that all is not well regardless of Brexit

  • outcome of EU referendum biggest immediate risk for UK fin markets
  • a vote to Leave would pose risks to global economy
  • MPC was briefed on BOE's contingency plans for referendum

Oooh, can we all have a look ?

  • MPC discussed fin stability measures available to FPC
  • issues discussed include more intensive supervision from PRA to make sure banks have sufficient liquidity inc foreign currencies
  • core inflation remains subdued, expected to increase much more gradually over course of year than CPI

Full Minutes here

            GBPUSD falling to 1.4115 on the less than optimistic tones

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