The British Pound depreciated against the US Dollar, following the UK Monetary Policy Summary release on Thursday at 12:00 GMT. The GBP/USD exchange currency rate lost 42 pips or 0.32% right after the release. The British Pound continued trading at the 1.2830 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: “The Monetary Policy Committee will, among other factors, monitor closely the responses of companies and households to Brexit developments as well as the prospects for a recovery in global growth. If global growth fails to stabilise or if Brexit uncertainties remain entrenched, monetary policy may need to reinforce the expected recovery in UK GDP growth and inflation.”