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GBP falls after BoE pump more money into economy

GBP falls after BoE pump more money into economy

The Pound has plummeted across the board hammered by Bank of England’s decision to increase its Bonds purchase program to GBP 275 billion, from previous GBP 200 billion. GBP/USD has dropped almost 200 pips reaching fresh one-year lows at 1.5285, while the GBP/JPY dropped from 118.50 to 117.15, and the GBP/EUR fell from 1.1590 to one-week highs at 1.1450.

The Bank of England’s Monetary Policy Committee has decided to maintain its Bank rate at 0.5% all-time lows, and to increase its Bonds purchase program to GBP 275 billion, from previous GBP 200 billion.

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