Pound Falls on Dovish BoE Meeting Minutes

The Great Britain pound slipped against the euro and the Japanese yen today as the dovish minutes of the Bank of England meeting signaled that the Bank may increase its bonds buying to support the UK economy.

The bank’s policy makers decided to keep the key interest rate at 0.5 percent and the bond purchases at £200 billion ($314 billion). The minutes of the BoE Monetary Policy Committee meeting showed that some members “felt the likelihood that further monetary stimulus would become necessary in order to meet the inflation target in the medium term had increased in recent months”.

EUR/GBP climbed from 0.8739 to 0.8795 as of 11:22 GMT today, while GBP/JPY went down from 128.12 to 127.75.

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