Sterling falls after Bank of England report
The pound fell after the Bank of England’s latest forecasts gave few signs of an early interest rate rise.
The Bank upgraded its growth forecast for this year to 2%, and – as expected – kept interest rates on hold at 0.25%.
It said some of its rate-setters had “moved a little closer” to their limits of tolerating inflation overshooting the Bank’s 2% target.
However, markets felt there was no real change to the Bank’s stance, and the pound fell sharply.
Source: BBC News Retrieved 3 February 2017, from http://www.bbc.co.uk/news/business-38838575