BoE keeps the steady course so far - UOB
smartmoney.oneFXStreet reports that economist at UOB Group Lee Sue Ann assesses the latest BoE event.“At its first meeting for the year, the Bank of England (BOE)’s monetary policy committee (MPC) judged that the existing stance of monetary policy remains appropriate.”“The BOE, on Thursday, also updated its forecasts, adding that the UK economy did not suffer as badly at the end of 2020 as previously expected, but there would be a downturn in the first quarter of 2021 because of the long lockdown while vaccinations were rolled out...But the economy is still predicted to return to its pre-pandemic size in early 2022, with consumers expected to spend heavily once the pandemic restrictions were lifted.”“There is certainly somewhat less pressure for the BOE.