The Great Britain pound jumped today after the Bank of England left its monetary policy unchanged and as manufacturing expanded in July faster than was expected by market participants.
The BoE announced today that its policy remains the same:
The Bank of Englandâs Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £375 billion.
The seasonally adjusted Markit/CIPS Manufacturing Purchasing Managersâ Index rose from 52.9 in June 54.6 in July. It was the highest level in 28 months. The gauge was expected to fall to 52.8.
GBP/USD ticked up from 1.5204 to 1.5213 as of 12:43 GMT today after falling to 1.5133. GBP/JPY jumped from 148.80 to 150.21. EUR/GBP declined from 0.8744 to 0.8694.
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