Bank of England keeps benchmark rate unchanged at 0.5% The Bank of England voted to maintain Bank Rate at 0.5%. The Committee also voted to maintain the stock of purchased assets financed by the issuance of central bank reserves at 375B pounds.
FX Action: Narrow ranges prevailed FX Action: Narrow ranges prevailed ahead of the potentially market-moving ECB meeting today and tomorrow's U.S. jobs report. The BoJ announced unchanged policy as was widely anticipated, and reaffirmed its commitment to the Y60-70 tln annual expansion in the monetary base. USD-JPY lifted modestly and recovered the 105.0 handle after BoJ Kuroda said that a firmer USD-JPY rate would be in balance with fundamentals. Yesterday's peak at 105.31 remained unchallenged. EUR-USD also remained below its high from yesterday at 1.3160. While the ECB is unlikely to announce the broad based asset purchases, Draghi will likely re-affirm his commitment to such a step on the back of downward revisions to the central bank's growth and inflation forecasts. GBP was steady. The BoE's upcoming announcement is likely to be a non-event for markets as a no change, no statement outcome is all but a certainty AUD-USD settled in the mid-0.93s after briefly extending to a one-week high of 0.9364 during the Sydney session on a firm Australian retail sales number.