EghtesadOnline: The pound strengthened, reversing an earlier decline against the dollar, after data showed the U.K. economy expanded more than forecast in the third quarter, reinforcing expectations that the Bank of England will raise interest rates next week.
EghtesadOnline: The pound slid from an 11-month high versus the dollar and U.K. government bonds rallied after the Bank of England voted to keep interest rates unchanged, while also cutting the country’s economic growth forecast.
EghtesadOnline: Reduced market expectations of a big rise in interest rates do not mean the Bank of England should loosen rules designed to stop mortgage borrowers getting into difficulty, central bank regulators have agreed.
EghtesadOnline: The Bank of England is expected to say on Thursday that it will still probably cut interest rates to a fraction above zero later this year, despite signs it overestimated the initial shock to Britain's economy from June's Brexit vote.
EghtesadOnline: The Bank of England cut interest rates for the first time since 2009 on Thursday and said it would buy 60 billion pounds of government debt to ease the blow from Britain's June 23 vote to leave the European Union.