GBP/USD: UK Monetary Policy Summary

The British Pound appreciated against the US Dollar, following the UK Monetary Policy Summary data release on Thursday at 11:00 GMT. The GBP/USD exchange currency rate gained 20 pips or 0.16% right after the release. The British Pound continued trading at the 1.2110 level against the US Dollar.

The Bank of England released the UK Official Bank Rate data, which came out in line with the expectations of 0.75%.

According to the official release: "Assuming a smooth Brexit and some recovery in global growth, a significant margin of excess demand is likely to build in the medium term. Were that to occur, the Committee judges that increases in interest rates, at a gradual pace and to a limited extent, would be appropriate to return inflation sustainably to the 2% target."