Home Business NewsBusinessPound spikes after BoE announcement

Pound spikes after BoE announcement

by Purvai Dua
13th Sep 18 12:16 pm

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 economistsโ€™ expectations, and said there had been limited domestic developments since its August 2 meeting, other than on Brexit.

โ€œSince the Committeeโ€™s previous meeting, there have been indications, most prominently in financial markets, of greater uncertainty about future developments in the (European Union) withdrawal process,โ€ the central bank said.

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