The Great Britain pound slipped against the US dollar and the euro today as Bank of England Deputy Governor Minouche Shafik was talking about possibility of additional stimulus as soon as November.
Shafik was speaking today. After the speech, she responded to the question about the possibility of monetary easing in November:
If we have data prior to that which signals that stimulus is needed, we will obviously act on that.
She also added:
I would much rather be on the front foot and act preemptively…than be on the back foot and do too little too late.
The remarks contrasted to the last week’s comments from another member of the Monetary Policy Committee Kristin Forbes, who said she sees no case for an additional interest rate cut.
GBP/USD slipped from 1.3022 to 1.2997 as of 10:18 GMT today. EUR/GBP advanced from 0.8610 to 0.8625.
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