Sterling Whipsaws On BoE Rate Decision

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Sterling was injected with a burst of volatility on Thursday after the BoE announced they will reduce the pace of weekly asset purchases to £3.4 billion from the previous rate of £4.4 billion.

As widely expected, the central bank voted unanimously to leave interest rates unchanged at their current record low of 0.1%.

Falling Covid-19 cases, the rapid progress in vaccine rollouts, easing lockdown restrictions, and improving domestic conditions have brightened the UK’s economic outlook. Reflecting these positive developments, GDP is forecast to expand sharply in the second quarter… Read More:

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