Bank of England announces interest rates to remain unchanged

By Richard Mason


The Bank of England has opted to maintain interest rates at 0.5%. This follows last Novembers rate hike which was its first since 2007. The FTSE100 has been under pressure over the past few sessions as part of a wider decline in global indices following the new Fed Chair’s decision to increase rates from 1.5% to 1.75%.

The FTSE100 has reacted mildly, moving slightly up off a key level of support at 6970 where multiple trend lines dissect. Failure here will see the index lean on support around 100 points lower. Moving averages paint a poor outlook too, with the 100 DMA slipping back below the 200 DMA – the first time since June 2016.

Author: Stuart Langelaan


Author: Richard Mason

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

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