Daily Commentary BY THE CURVE TEAM –

Daily Insights – Bank of England Hold

5th of November, 2021

Trade Balance

  • Fell to a surplus of $12.2 billion, down $2.5 billion.
  • Falls in the iron ore price drove the falls, with metal ore exports down 16%.
  • Overall exports dropped 6.4% and imports fell 1.8%.

Bank of England Hold

  • The Bank of England left the cash rate unchanged, despite expectations it could go to 0.25% from 0.10%.
  • They did say the cash rate will need to be lifted over the coming months with inflation very high.

Mortgage Rates Rise

  • More than three hundred fixed rate mortgage products have gone up, which was expected following the RBA ending its yield curve target.
  • 0.17% was the average increase across products.

Josh Stewart

Associate - Money Markets