As expected, the Bank of England left interest rates unchanged at 0.25%. Despite a hint at the possible faster rate increase of interest rates in the future, the bulls were disappointed by the decline in the forecast for GDP growth this year from 2% to 1.9%.
The pair continues to fall as market participants react to more aggressive actions of the FED. Despite the fact that the ECB continues its massive QE program, yesterday’s comments by Mario Draghi allude to the fact that the ECB’s position will become more hawkish in the near future.
Follow us on Facebook or Twitter