BOE Minutes Drive Pound Lower as Divisions Persists

Sterling fell sharply against the dollar on Wednesday morning with the minutes from Bank of England’s (BoE) latest rate-setting meeting showing that members remain split on the future path of interest rates in the U.K.

Two members of the central bank’s Monetary Policy Committee (MPC) again voted for an interest rate hike in October. Martin Weale and Ian McCafferty were the two to vote for the move, with the economists widely viewed as the most hawkish members at the central bank.

Both voted in favor of raising rates by 0.25 basis points, as they did back in August, according to minutes released on Wednesday morning.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza