The British Pound fell sharply against the US Dollar, as the Bank of England announced its rate decision on Thursday. The GBP/USD exchange rate depreciated 27 base points or 0.20% to the 1.3419 mark, but managed to keep the position nearing the 1.3440.
A breakthrough in Brexit negotiations diminished the risk of a disordelry Britain’s quit from the EU and is likely to encourage corporate and household confidence, the Bank of England stated. The Central Bank’s policymakers voted to keep interest rates unchanged at 0.50%, in line with expectations, after raising them last month, as inflation growth reached its strongest level in almost six years, while unemployment rate remained very low.
