Bank of England holds steady on rates, awaits impact of Johnson's election win

• The Bank of England kept interest rates steady on Thursday, saying it was too soon to gauge how much Prime Minister Boris Johnson’s election victory would lift the Brexit uncertainty that has hung over the economy.
• Two of the BoE’s nine policymakers voted for a second month in a row for a cut to borrowing costs due to fears that Britain’s jobs boom is deteriorating.
• But the majority took a wait-and-see approach at the penultimate rate-setting meeting for Governor Mark Carney, who is due to stand down on Jan. 31.
• “There was no evidence yet about the extent to which policy uncertainties among companies and households had declined following recent domestic policy developments,” the BoE said in a statement.
• Sterling rose and British government bond prices fell on the news that no further BoE policymakers had backed a rate cut.

(Source: Reuters)