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EUR/GBP steady after BoE decision

FXStreet (Córdoba) - Pound was barely affected by the Bank of England decision to leave its monetary policy unchanged, as it was widely anticipated.

EUR/GBP moved only a couple of pips but overall continues to waver around the flat line at the 0.7870 zone, after being rejected from a 3-week high of 0.7900 the previous day, with the subsequent dip being contained by 0.7865 so far.

Bank of England decision

At today’s meeting, the Bank of England decided to leave its monetary policy unchanged with the Bank rate at 0.5% and the amount of the Asset Purchase Facility at £375 billion.

“There is a growing acknowledgement within the economy that the period of ultra-loose monetary policy will soon be coming to an end”, says the ING Bank team. “We think it likely that Martin Weale and Ian McCafferty remained the only MPC members voting for a rate rise today with February the most likely start point for actual policy tightening in our view. The wage story will be key though and it will be interesting to see if the 3% rise in the national minimum wage this month is the catalyst for broader pay increases in the economy”.

BoE keeps policy unchanged

At today’s meeting, the Bank of England decided to leave its monetary policy unchanged with the Bank rate at 0.5%, where it has stood since March 2009.
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