Economic Stimulus

The Bank of England on Thursday maintained interest rate defying market expectations of BoE would be the first bank big central bank in the world to hike interest rate. Interest rate is kept all time low at 0.10% and given the economic performance in the coming months, the regulators kept rates hikes an open dialogue. Seven out of nice policymakers voted to maintain rates while two opposition vote casted for immediate 15 basis point rate hike. Contrary to the BoE and U.S. Federal Reserve (FED), the European Central Bank (ECB) remained open about maintaining stimulus support and very unlikely to raise interest rate next year.