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9 Jan 2014
GBP/USD continues to climb, BoE holds rates
FXstreet.com (London) - GBP/USD is currently trading at USD1.6468 , creeping up on the session so far.
The Bank of England has held interest rates at its record-low 0.5 percent. It has also kept its asset purchase facility at GBP375bn.
No accompanying statement from BoE
Though there was a paper-thin possibility that BoE governor may accompany the announcement with a statement following chatter about a possible rate hike, none materialised.
There had been recent speculation that the BoE may move to hike rates earlier than forecast. However, this is something that Carney will be quick to quash.
Carney has been consistent in stating that the BoE will move to hike rates only when the unemployment rate falls below 7 percent and has stressed that the 7 percent rate constitutes a threshold and not a trigger for hikes, suggesting he may let job growth run further before hiking rates.
Non-farm payrolls the next focus
GBP/USD is currently trading at USD1.6468 up 0.1 percent with tomorrow’s non-farm payroll figures now the main driving focus for the pair.
The Bank of England has held interest rates at its record-low 0.5 percent. It has also kept its asset purchase facility at GBP375bn.
No accompanying statement from BoE
Though there was a paper-thin possibility that BoE governor may accompany the announcement with a statement following chatter about a possible rate hike, none materialised.
There had been recent speculation that the BoE may move to hike rates earlier than forecast. However, this is something that Carney will be quick to quash.
Carney has been consistent in stating that the BoE will move to hike rates only when the unemployment rate falls below 7 percent and has stressed that the 7 percent rate constitutes a threshold and not a trigger for hikes, suggesting he may let job growth run further before hiking rates.
Non-farm payrolls the next focus
GBP/USD is currently trading at USD1.6468 up 0.1 percent with tomorrow’s non-farm payroll figures now the main driving focus for the pair.