The Bank of England decided to take a wait-and-see approach during its May monetary policy meeting. BOE left its benchmark interest rate unchanged at a record low of 0.1% and the bond-buying programme at £875 billion as widely expected. Policymakers said that the existing stance of monetary policy remained appropriate. The central bank also said it does not intend to tighten monetary policy at least until there is clear evidence that significant progress is being made in eliminating spare capacity and achieving the 2 % inflation target sustainably.
GBPUSD - initially currency pair fell after BOE rate decision, however buyers manage to quickly regain control and price is testing resisitance at 1.3918. Source: xStation5
