As widely expected, the Bank of England announced on Thursday that it hiked its policy rate by 25 basis points to 1.25%. Three policymakers, however, voted for a 50 bps rate hike and the policy statement reaffirmed the BOE's commitment to continue to tighten the policy to tame inflation. The British pound capitalized on the BOE's hawkish tone and easily outperformed its rivals.
In the meantime, the risk-positive market atmosphere, as reflected by a 0.6% increase in the UK's FTSE 100 Index in the European morning, helps the British pound limit its losses. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
Source: Digital Coin News (digitalcoinnews.net)