GBP/USD: UK Monetary Policy Summary

The British Pound appreciated against the US Dollar, following the UK Monetary Policy Summary release on Thursday at 12:00 GMT. The GBP/USD exchange currency rate gained 37 pips or 0.29% right after the release. The Pound continued trading at the 1.3100 level against the Greenback.

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

According to the official release: "The Bank of England's Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 18 December 2019, the MPC voted by a majority of 7-2 to maintain Bank Rate at 0.75%. The Committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £10 billion. The Committee also voted unanimously to maintain the stock of UK government bond purchases, financed by the issuance of central bank reserves, at £435 billion."