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Economy

xchrom

(108,903 posts)

13. Pound falls as Bank of England plays down rate rise

Reply to Tansy_Gold (Original post)

Thu Jul 4, 2013, 09:27 AM

Jul 2013

http://www.bbc.co.uk/news/business-23177463

The pound has fallen sharply after the Bank of England warned that markets were wrong to assume that it would start raising interest rates soon.

Sterling immediately dropped a cent and a half against the dollar to $1.5141.

It came as the Bank held interest rates at 0.5% and kept its quantitative easing programme (QE) unchanged.

The decisions were made at the first meeting of the Bank's Monetary Policy Committee since Mark Carney took over as governor from Sir Mervyn King.

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STOCK MARKET WATCH -- Thursday, 4 July 2013 [View all] Tansy_Gold Jul 2013 OP

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