Bank of England Leaves Rates On Hold
As was widely expected the Bank of England announced at noon that they were leaving UK interest rates on hold at the all-time historic low of 0.5%.
There were no changes announced to the GBP200 billion asset purchase programme either. That's money well spent isn't it? Two hundred billion quid to generate growth of 0.1% in the last quarter.
How much would it cost to get something a bit more tangible?
Sterling pushed higher against the dollar and euro immediately following the news.
The ECB are next up with their announcement at 13.45 GMT.
As has been the trend recently, it will be the exact wording of accompanying statements that the forex markets will react to.
There were no changes announced to the GBP200 billion asset purchase programme either. That's money well spent isn't it? Two hundred billion quid to generate growth of 0.1% in the last quarter.
How much would it cost to get something a bit more tangible?
Sterling pushed higher against the dollar and euro immediately following the news.
The ECB are next up with their announcement at 13.45 GMT.
As has been the trend recently, it will be the exact wording of accompanying statements that the forex markets will react to.
