Forex

Sterling falls after BOE's Carney remarks

2019-11-07 20:31:43 GMT (Economies.com)

The British pound fell against the US dollar today, after the Bank of England rate decision and the bank president Mark Carney's remarks.

 

The Bank of England kept the interest rates at 0.75% unchanged today, in a widely expected move, but left the door open for futures rate cuts.

 

The bank also kept the asset purchase program at £435 billion, which is aimed at supporting the British economy growth.

 

The bank president Mark Carney talked about the Brexit uncertainty and the damages of the US-China trade war and the growing global trade protectionism during a press conference today.

 

Carney stated the BoE is ready to cut interest rates if the British economy saw further growth slowdown.

 

Back to trading, GBP/USD fell by 0.2% to 1.2825 as of 19:44 GMT, the pair hit an intraday high of 1.2878 and a low of 1.2795.

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