Pound Gains as BoE Keeps Policy Unchanged
The Great Britain pound strengthened after the Bank of England maintained its main interest rate and the size of the asset purchase program unchanged. Today’s rally followed yesterday’s drop to the lowest level in three weeks against the US dollar.
The BoE left its key interest rate at 0.5 percent and the asset purchase facility at £375 billion. Such decision was expected as the central bank promised earlier that it will keep the policy unchanged in the near future. Yet some economists believe that the BoE may be forced to boost its bond buying in November if the UK economy does not show signs of improvement.
GBP/USD climbed from 1.6074 to 1.6156 and GBP/JPY advanced from 126.15 to 126.69 as of 15:10 GMT today.
If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.
Earlier News About the Great Britain Pound:
- UK Fundamentals Unexpectedly Bad, Pound Loses Strength (2012-10-02)
- Pound Down vs. Euro on Manufacturing PMI, Stable vs. Dollar (2012-10-01)
- UK Pound Gains on European Safe Haven Status (2012-09-26)
- UK Pound Gains as Forex Traders Dial Back the Euphoria (2012-09-17)
- Falling Unemployment Claims Improve Outlook for Pound (2012-09-12)