SubscribeUS Session: BoE Expands QE, But Less Than Expected
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The headline event of the day was the BoE meeting where MPC members voted to maintain interest rates at 0.5%, but more significantly, chose to increase their asset purchase target by only GBP25bn (vs. consensus estimates for 50bn). The smaller-than-expected expansion of the QE program caused a rapid spike in GBPUSD from 1.6500 to 1.6600, as markets perceived this move signaled a less severe… | ||||||||||||||||||||
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