United States Factory Orders (MoM) registered at -2.9%, below expectations (-2.8%) in December

The BoE today held its rate steay at a record low level of 0.5 per cent in line with broad market ecpectation. The MPC voted unanimously to hold rates steady with the lone hawk Ian McCafferty deciding to drop his demand for a rate hike. BoE governor Carney flagged weak global growth concerns stressing that slowdown in emerging economies led by China is impacting Britain’s economic progress despite the resilience shown by economy.