The Pound Sterling decreased following the BoE’s announcement that they will increase their ‘Quantitive Easing’ program.

[RTFX-Trading]

The Pound Sterling decreased following the BoE’s announcement that they will increase their ‘Quantitive Easing’ program.

At 13:00 CET, the Bank of England left its key rate unchanged at 0.50% as expected. The surprise came from the increase of £ 50Billion to £ 175Milliards of its program of acquisitions of assets, which is extended by three months. The Bank of England said that the recession appears to have been deeper than expected earlier, the confidence of households and firms has improved and the pace of contraction has slowed.

The Pound is in sharp decline of 0.51% against its major rivals, down 0.76% to 1.6859 against the US Dollar, 0.65% against the Euro to 1.1718 and 0.59% to 1.7933 against the Swiss Franc.


Nicolas Longchamp

RTFX Ltd
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