The pound is getting smashed against the dollar after the Bank of England held rates for the 80th month

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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