The Great Britain pound declined today after the minutes of the Bank of England meeting showed that the policy makers prefer to keep the interest rates unchanged.
The minutes showed that six of nine members of the Monetary Policy Committee favor unchanged interest rates, while market participants hoped that the number of voters for higher rates would increase since last meeting. The minutes said:
Overall, the uncertainty created by both developments in the oil market and the recent indicators of household spending and confidence meant that there remained merit in waiting to see how those factors evolved before altering the stance of monetary policy.
GBP/USD fell from 1.6372 to 1.6293 as of 11:11 GMT today, while GBP/JPY dropped from 132.58 to 131.74.
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