Published On: Thu, Nov 7th, 2019

Pound US dollar exchange rate: GBP/USD sinks on Bank of England division

The pound US dollar exchange rate eased this afternoon after the Bank of England left its interest rate unchanged at 0.75 percent. This came despite two dissenting policymakers voting to cut the rate to 0.5 percent. The BoE was gloomy in its forecasts for the British economy, saying in its latest Monetary Policy Report: “Growth in the UK economy has been volatile this year in part because of Brexit preparations.”
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Pound US dollar exchange rate: GBP/USD sinks on Bank of England division