The Great Britain pound traded sideways today, and the Bank of England provided the currency little help in finding direction as it has left the monetary policy unchanged, in line with traders’ expectations.
The BoE announced today:â
The Bank of Englandâs Monetary Policy Committee today voted to maintain Bank Rate at 0.5%. The Committee also voted to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 billion.
Market participants expected such decision. The central bank will release its Inflation Report, which may have a big impact on the sterling, on February 12.
GBP/USD traded at about 1.6303 as of 12:25 GMT today, not far from the opening of 1.6307. GBP/JPY was at 165.27 after it has opened at 165.42.
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