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“It’s possible that the wider effects of quantitative easing (QE) are more moderate than they were,” Bank of England (BoE) Deputy Governor Ben Broadbent said on Friday, as reported by Reuters.

Key takeaways

“We think markets expected more QE, had we done nothing market rates would have risen.”

“We will continue to keep policies loose for as long as necessary.”

“We could take further action.”

Market reaction

The GBP/USD pair largely ignored these comments and was last seen losing 0.12% on a daily basis at 1.3127.