The pound weakened as details of the Bank of England’s first unanimous decision on monetary policy since July damped the outlook for higher interest rates that would support the currency. Sterling fell against all of its 16 major peers after policy makers Martin Weale and Ian McCafferty dropped their call for an interest-rate increase as plunging oil prices raised the risk that low inflation would become entrenched. Separate data showed wage growth in the three months through November was less than analysts estimated. U.K. 10-year government bonds were little changed while 30-year yields climbed from a record low.
Posted on: Wed, 21 Jan 2015 12:57:48 +0000
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