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FTSE 100 immediately loves BOE policy inaction
The reaction across the markets following the Bank of England refusal to hike rates again has not just been confined to the FX space. The FTSE 100 has jumped higher on hearing this news. The Bank has also downgraded their growth forecasts too and that downgrade is being used by the Bank as an excuse for not raising rates again. So, the UK stock markets have loved this news and the FTSE 100 has jumped back to 7,740 upon hearing it. It is paring those gains right now and perhaps that is for good reasons as recession fears are also at play here. That said there was no escaping the initial knee-jerk rise to start with. The FTSE 100 is just now trading at 7,715
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