Sterling drops as BoE remains calm on UK inflation outlook

The British Pound fell against its major peers on Thursday after Bank of England (BoE) kept monetary policy unchanged while raising its forecast for British economic growth this year. Carney warned of the uncertainty over the Brexit, cautioning that “there will be twists and turns along the way”. He reiterated that “we can see scenarios in either direction”, and “the next interest-rate move could be up or down, depending on how events play out”.

Meanwhile in Japan, the Yen slipped against the US Dollar after the Bank of Japan offered to buy 10-year government Bonds in a surprise operation aimed at bringing down JGB yields at its target of 0%.

Leave A Reply

Your email address will not be published. Required fields are marked *