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.
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