Worse Just Came
The minutes of the Bank of England meeting showed that policy makers voted unanimously to cut interest rates to 0.5% at their last meeting. The minutes also showed that the MPC also unanimously voted in favour of the GBP75 billion Asset Purchase Programme.
In employment data, UK unemployment has now risen above two million for the first time since 1997, standing at 2.03 million.
February jobless claims rose 138,400, against expectations of an 84,800 increase.
The pound fell to $1.3847 against the dollar and 93.93 pence against the euro shortly after the news.
In employment data, UK unemployment has now risen above two million for the first time since 1997, standing at 2.03 million.
February jobless claims rose 138,400, against expectations of an 84,800 increase.
The pound fell to $1.3847 against the dollar and 93.93 pence against the euro shortly after the news.
