The Great Britain pound fell today after the Bank of England kept its benchmark interest rate and the size of asset purchases unchanged. The currency erased its previous advance versus the Japanese yen, but trimmed losses versus the US dollar.
The BoE announced today:
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.
Unlike the move of the European Central Bank, such decision was expected by analysts. Now attention of sterling traders turned to the inflation report that is scheduled to be released on November 13.
GBP/USD was down from 1.6078 to 1.6066 as of 16:53 GMT today, rebounding from the daily low of 1.6008. GBP/JPY declined from 158.61 to 158.33 following the rally to 159.28.
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