RTTN: Pound Declines Ahead Of Bank Of England Rate Decision
(RTTNews) - The Bank of England is set to announce its interest rate decision at 7:00 am ET. The central bank is widely expected to leave the key rate unchanged at a record low of 0.5%.
It's also widely expected that the Central Bank would maintain the size of the quantitative easing at GBP 200 billion given the better-than-expected third-quarter gross-domestic-product data in October.
The pound edged lower against its major rivals ahead of the rate announcement. The sterling is presently quoted at 132.40 against the yen, 1.5756 against the US dollar, 1.5560 against the Swiss franc and 0.8390 against the euro.
