Pound weak ahead of Bank decision

(Source: Yahoo! Finance)

The pound is trading at its weakest level against the dollar in two weeks ahead of the Bank of England's rate decision, to be announced at noon. Our economics reporter Ben Southwood:

“We consider it more likely that the committee will vote to keep the QE target at £375bn as well as the Bank rate steady at 0.5 per cent,” said Investec’s Philip Shaw.

This chimed with the decision from City A.M.’s Shadow MPC, who voted unanimously against cutting rates from their current level, and six to three against a further expansion of the QE programme.

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