Pound Falls as BOE Cuts Rates to 4.5%—Will More Easing Follow?
BOE cuts rates to 4.5% as U.K. growth stalls. Pound weakens, gold gains. Will policymakers signal another cut as soon as March? Read more.
GBP/USD plummets as BoE cut rates unanimously
The Pound Sterling (GBP) fell during Thursday’s North American session, down 0.79% after the Bank of England (BoE) reduced the Bank Rate by 25 basis points. Therefore, the GBP/USD pair tumbled below 1.2400 and hit a daily low of 1.2359. At the time of writing, the pair trades at 1.2405.
GBP/USD Forecast Today 07/02: Falls On Boe Rate Cut (Chart)
During the trading session on Thursday, we have seen the British pound dropped fairly significantly against the US dollar after the Bank
GBP/USD forecast ahead of BoE interest rate decision
The GBP/USD exchange rate pulled back slightly after the Federal Reserve interest rate decision and US GDP data. It dropped to a low of 1.2400, down from this week’s high of 1.2500 as focus shifts to the upcoming US personal consumption expenditure (PCE) data and Bank of England (BoE) decision.
FTSE 100 Live: Bailey Says BOE Expects to Be Able to Cut Rates Further
UK stocks have opened in positive territory, with the FTSE 100 up 0.7% and the FTSE 250 up 0.4%. The pound has weakened more against the dollar, now down 0.3%, and is about flat against the euro. Gilt yields aren’t moving much.
Sterling Extends Losses After BOE Cuts Rates
Sterling was weaker against the dollar after the BOE cut interest rates by 25bp, a decision that was widely expected, but two members preferred a 50 basis-point reduction, which analysts hadn’t anticipated.
Sterling drops ahead of Bank of England rate decision
Sterling fell against the dollar on Thursday, on track for its biggest daily drop in about a month, as investors awaited the outcome of the Bank of England's meeting, at which the central bank is widely expected to cut interest rates.
FxWirePro: GBP/USD slips towards 1.2400 level ahead of Bank of England rate decision
GBP/USD fell sharply on Thursday as sterling attracted sellers ahead of the Bank of Englands policy decision. Markets price in a 94% chance the BoE will cut rates by 25 basis points to 4.5% on Thursday,
Sterling Could Fall if Strong Majority of BOE Officials Back Rate Cut
Sterling weakened against the dollar and could fall further if the BOE votes 8-1 to cut interest rates and downgrades its economic growth forecasts, ING said.
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GBP/JPY Forecast Today 07/02: Drops On Boe Cut (Video)
It's been pretty ugly here on Thursday as the British Pound has fallen pretty significantly after the Bank of England cut interest rates ...
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