Bank of England Keeps Interest Rate Steady

Sterling gains against U.S. dollar in forex trading The U.K. pound has been having a bit of a rough week in currency trading. However, things appear to be looking up right now. The Bank of England announced its interest rates decision today, and decided to hold the rates steady at 0.5%. In addition to that, British policy makers also announced that they would continue with quantitative easing programs, instead of expanding them. The news that Britain feels confident enough in economic recovery to avoid expanding its stimulus attempts helped the sterling gain against the U.S. dollar this morning, after dropping below 1.6000. The U.K. pound has recovered, surging ahead after the interest rate decision. The decision shows that Britain recognizes the need to keep rates low for now, but the fact that the country will not expand quantitative easing efforts indicates that there is a fear of inflation, and that means the economy could be showing signs that growth is on the way. All og this is positive for sterling in forex trading. U.K. Pound in Currency Trading Forex trading with world currencies http://www.fx360.com/?aid=5704 Topic Tags: currency trading, dollar forex trading, forex trading, quantitative easing, sterling forex trading, U.K. pound currency trading, U.S. dollar