BoE Minutes Sparks GBP Selling
June 18, 2008
The BoE minutes from the June 4th-5th meeting were released today with little surprise. 8 of the 9 MPC members saw it fit to leave rates on hold, with some of these members actually considering a pre-emptive rate hike to control inflationary pressures. However, with the risks to both inflation and growth still uncertain the MPC concluded it would be best to leave rates steady for now. Following the release of the BoE minutes, Sterling recorded its session low against the U.S. dollar at 1.9479.