Dear Reader,

Today's overview of economic news and market action

• In-line with expectations, the BoE opted to leave monetary policy on hold …
• The MPC voted 6:3 for the decision, with the dissenters preferring a 25bps rate cut …
• In the initial aftermath of the decision, futures contracts softened slightly …
• Currency-wise, sterling was under dome downward pressure ...
• At the same time, the yen has remained on the back-foot …
• EUR/USD opens in the top half of the $1.03-1.04 range …
• EUR/GBP is up above the 83p mark …
• GBP/USD is operating down just below the $1.25 threshold …
• Meantime, USD/JPY is up near the ¥157 handle …
• Today, the main highlight will be US core-PCE inflation (Nov) …

All rates quoted are indicative market rates.