No change was made in the British policy – the benchmark interest rate remained unchanged at the historic low of 0.50% and the capacity of the Asset Purchase Facility (or QE) remained unchanged at 275 billion pounds. This decision was widely expected. GBP/USD is ticking up after the release, moving from 1.57 to 1.5715. British inflation remains elevated, but the Bank of England expects it to drop sharply, together with the economy. Unemployment is on the rise in the UK. Mervyn King and his colleagues could certainly expand the QE program in the next meeting in January. The current 75 billion plan is expected to run its course in January. GBP/USD was trading around 1.57 before the announcement. Earlier it rose above 1.57. Yesterday it moved up from the 1.5530 – 1.5630 range to higher ground in a sharp move. For more levels and analysis, see the GBP/USD forecast. The more important and anticipated rate decision comes from Europe today. Mario Draghi is expected to cut the rate by 0.25% and present more steps to help the banks. See the ECB preview for details. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next ECB Cuts Rates by 0.25% to 1% Yohay Elam 11 years No change was made in the British policy - the benchmark interest rate remained unchanged at the historic low of 0.50% and the capacity of the Asset Purchase Facility (or QE) remained unchanged at 275 billion pounds. This decision was widely expected. GBP/USD is ticking up after the release, moving from 1.57 to 1.5715. British inflation remains elevated, but the Bank of England expects it to drop sharply, together with the economy. Unemployment is on the rise in the UK. Mervyn King and his colleagues could certainly expand the QE program in the next meeting in January. The current 75… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
