BOE Cuts Rates By Half Point, Pound Goes Through USD1.46
As widely anticipated the Bank of England has cut interest rates by a half point to a fresh historic low of 1 percent.
A decision by the European Central Bank is due around 12.30 GMT. A more cautious approach is expected from the ECB, with the market anticipating rates in the Euro Zone to be left unchanged.
With rates already so low many analysts believe that today's change will do very little to stimulate economic growth.
The pound broke through the $1.46 level against the dollar shortly after the news, to push to its highest level since Jan 19.
In the US base rates are 0.25 percent and in Japan just 0.1 percent.
With levels this low there's not a lot of bullets left.
A decision by the European Central Bank is due around 12.30 GMT. A more cautious approach is expected from the ECB, with the market anticipating rates in the Euro Zone to be left unchanged.
With rates already so low many analysts believe that today's change will do very little to stimulate economic growth.
The pound broke through the $1.46 level against the dollar shortly after the news, to push to its highest level since Jan 19.
In the US base rates are 0.25 percent and in Japan just 0.1 percent.
With levels this low there's not a lot of bullets left.
