Market's response limited on BoE - TDS

Analysts at TD Securities noted that, as expected, the Bank of England unanimously voted to keep Bank Rate at 0.50% and QE at £375bn.

Key Quotes:

The central forecast of today’s Inflation Report was conditioned on the status quo (thus a Remain win). The MPC revised down its growth forecast but left its inflation forecast broadly unchanged.

Nevertheless, the BoE discussed risks associated with a Leave win, identifying a possible material slowdown in both demand and supply, as well as a sharp depreciation in the exchange rate.

Markets have responded relatively little to today’s decision."