Pound spikes after BoE announcement


In a boost to Sterling, the Bank of England today kept the interest rates on hold at 0.75 per cent.

Pound was trading at $1.3060 up from around $1.3040 before the announcement.

The BoE said its nine rate-setters voted unanimously for the decision, in line with economists’ expectations, and said there had been limited domestic developments since its August 2 meeting, other than on Brexit.

“Since the Committee’s previous meeting, there have been indications, most prominently in financial markets, of greater uncertainty about future developments in the (European Union) withdrawal process,” the central bank said.