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BOE Holds Rates Steady!
By Mike Conlon | September 10, 2009
The Bank of England this morning announced it was keeping interest rates at unchanged at .5% for the 6th month in a row. More importantly however, is that they did not announce any further quantitative easing in addition to the 50 billion pounds it raised by last month.
This was seen as positive by the market in that it could show signs that the British economy is recovering more quickly, thereby not needing any further measures, although they are still open to it if necessary.
So far this AM the GBP is the big winner, with GBP/AUD +1.25%, GBP/JPY +.65%, GBP/USD +.50%.
Equity markets here in the US are quiet, further buoying the Pound’s strength.
Tags: AUD, bank, British, economy, interest, interest rate, interest rates, jpy, market, Mike Conlon, pound, USD
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