14.07.2016 - The Bank of England has not lowered key interest rate

The price of the British pound today showed strong growth after the Bank of England decided not to change the monetary policy settings and to leave the key interest rate at the historically low level of 0.50% and to expand asset purchasing program. It should be noted that the likelihood of monetary easing was high, but the central bank of the country have decided to wait for the publication of more economic data to assess the current situation in the economy. Despite the current strengthening, we expect the resumption of the negative dynamics of the British pound against the background of the impact of the country's exit from the EU. The medium-term outlook for the British pound remains pessimistic with targets at 1.3000 and 1.2600.

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