Crucial US Labour Market Report Awaited
In line with market expectations, the BoE kept its benchmark interest rate unchanged at its policy meeting yesterday. Additionally the central bank lowered its inflation forecast for the next twelve months. The downgrade was in line with the guidance provided by the BoE Chief, who had earlier indicated short term weakness in Britain’s inflation.
The Euro slumped against most of its peers in the aftermath of yesterday’s ECB monetary policy meeting. Across the Atlantic, today’s official labour market report is anticipated to hog limelight in the latter half of today’s trading session. The print is anticipated to show that job growth in the US remained robust and unemployment rate in the nation nudged lower for February.