The Bank of England’s Super Thursday bundle of decisions and inflation analysis is out.
Althought the main headlines are that policy is unchanged — the rate-setting monetary policy committee (MPC) voted 8-1 to keep interest rates where they are — the pound is getting a hammering against the US dollar.
Here’s GBP/USD reaction at 12 p.m. UK time (7 a.m. ET). It dropped 0.69% and is currently holding steady there:
The UK’s central bank lowered its economic growth forecasts, sending signals that it would be happy to keep rates lower for longer.
More to follow.
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