BoE's Ramsden: Markets are pricing another increase in bank rate by end of next year

The Bank of England's Deputy Governor David Ramsden, who voted against the BoE's rate hike earlier this month, is responding to questions following his speech at King's College, in London, with key quotes, via Reuters, found below.

Markets are pricing another increase in bank rate by end of next year.

This is consistent with yield curve that was base for BoE's November projections.

Key notes

EU’s Barnier: Brexit means UK financial services providers will lose their EU passport.

Speaking at Centre for European Reform in Brussels, the European Union's chied Brexit negotiation, Michel Barnier was noted saying that EU must continue having a close relationship with the UK. 

GBP/USD retreats sharply from 2-1/2 week tops.

The GBP/USD pair trimmed some of its strong gains and retreated around 50-pips from 2-1/2 week highs touched earlier. 

About BOE interest rate decision

BoE Interest Rate Decision is announced by the Bank of England. If the BoE is hawkish about the inflationary outlook of the economy and raises the interest rates it is positive, or bullish, for the GBP. Likewise, if the BoE has a dovish view on the UK economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.