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Pound Strengthens After BoE Decision

As expected, the Bank of England kept the key rate unchanged at 0.75 percent and asset purchase target at GBP 435 billion. Following the decision, the pound advanced against its major rivals. The pound was trading at 145.90 against the yen, 1.2945 against the franc, 0.8828 against the euro and 1.2910 against the greenback around…

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BoE Signals Faster Rate Hikes On Brexit Uncertainty

Bank of England policymakers unanimously decided to maintain the monetary policy stance at the meeting, but signaled faster rate hikes than the current market expectations over Brexit uncertainties. Although the impact of Brexit cannot be determined in advance, the Monetary Policy Committee vowed to respond to any material change in the outlook. Inflation is forecast…

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U.S. Labor Productivity Growth Slows To 2.2% In Q3

Labor productivity growth in the U.S. slowed in the third quarter, according to a report released by the Labor Department on Thursday, with the report also showing a rebound in unit labor costs. The Labor Department said labor productivity climbed by 2.2 percent in the third quarter after jumping by 3.0 percent in the second…

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U.S. Weekly Jobless Claims Edge Slightly Lower To 214,000

A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report on Thursday showing a slight drop in first-time claims for U.S. unemployment benefits in the week ended October 27th. The report said initial jobless claims edged down to 214,000, a decrease of 2,000 from the…

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U.S. Labor Productivity Growth Slows In Q3

Labor productivity growth in the U.S. slowed in the third quarter, according to a report released by the Labor Department on Thursday, with the report also showing a rebound in unit labor costs. The Labor Department said labor productivity climbed by 2.2 percent in the third quarter after jumping by 3.0 percent in the second…

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BoE Unanimous On Policy; Brexit To Guide Outlook

Bank of England policymakers unanimously decided to maintain monetary policy stance at the meeting and suggested that economic outlook of the UK remains sensitive to the effects of Brexit. The Monetary Policy Committee, led by Governor Mark Carney, voted 9-0 to keep the key rate unchanged at 0.75 percent. The committee also unanimously decided to…