Pound Falls on Dovish BoE Meeting Minutes
The Great Britain pound slipped against the euro and the Japanese yen today as the dovish minutes of the Bank of England meeting signaled that the Bank may increase its bonds buying to support the UK economy.
The bank’s policy makers decided to keep the key interest rate at 0.5 percent and the bond purchases at £200 billion ($314 billion). The minutes of the BoE Monetary Policy Committee meeting showed that some members “felt the likelihood that further monetary stimulus would become necessary in order to meet the inflation target in the medium term had increased in recent months”.
EUR/GBP climbed from 0.8739 to 0.8795 as of 11:22 GMT today, while GBP/JPY went down from 128.12 to 127.75.
If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.
Tags
Categories
Earlier News About the Great Britain Pound:
- Pound Falls on Concerns Budget Cuts Won't Help with Deficit (2010-10-18)
- Pound Falls on Concerns About BOE Stimulus (2010-10-16)
- Pound Weakens as UK Houses Prices Decline (2010-10-12)
- Pound Reaches Eight-Month Record as Rates Remain Unchanged (2010-10-07)
- Pound Drops on Talks About Stimulus (2010-10-06)
2 Comments
What will happen to the pound vs the euro for this coming week?
Do you envisage that the G20 summit in Korea might improve the sterling or devalue the euro.
At the moment the rate is 0.8860 / 1.1286 . It is really worrying !!!!!
Thanks
I expect G20 summit to be more favorable to the pound than to the euro.