Yesterday the Bank of England unanimously decided to keep interest rates on hold for another month, keeping the figure at 0.5% for over 7 years.

All 9 Monetary Policy Committee members favoured no change, which came as no surprise to investors.

With the EU Referendum taking a front seat in the news, there appears to be little economic data which will swing sterling either way at present.

The uncertainty which will surround the pound if the UK was to leave the EU has taken its toll and GBP has fallen across the board in recent months against most major counterparties.

Mark Carney also blamed the potential Brexit to cause growth issues within the first half of 2016, as businesses seem willing to hold back investment until the situation becomes more transparent

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Article by Lee Chappell, Corporate Dealer, Currencies Direct.
* Information courtesy of Currencies Direct
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