Currency Analyst since 2010

GBP: Bank of England's minutes

The Bank of England left its policy unchanged in August – the interest rate remained at 0.50%, while the volume of the Asset Purchase Program – at 375 billion pounds. Despite the market expectations, only one member of the Monetary Policy Committee (MPC) – Ian McCafferty – voted for the rate hike. Traders thought that Martin Weale who together with Mr McCafferty voted for policy tightening in December 2014 would join him this time as well. Such outcome has disappointed the bulls, and provoked GBP selling.

At 11:45 GMT Bank of England’s Governor Carney will start his press conference. 

Scroll to top