The Bank of England kept its main interest rate unchanged at 0.5 percent. Size of the asset purchase program (quantitative easing monetary policy, ie QE) remained unchanged at 375 billion pounds.
The key may be taking at the beginning of July the management of the Bank of England by Mark Carney, the current governor of the Bank of Canada.
Carney spent thirteen years with Goldman Sachs in its London, Tokyo, New York and Toronto offices. His progressively more senior positions included co-head of sovereign risk; executive director, emerging debt capital markets; and managing director, investment banking.
Increasing the asset purchase program would mean one thing, a sudden weakening of the British pound relative to major currencies including the U.S. dollar.
what expect Goldman Sachs ?
Let's observe the behavior of the market.
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| chart 1. GBP/USD H1 |
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| chart 2. GBP/USD H4 |
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| chart 3. GBP/USD W1 |
Good luck,
oscarjp
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