Investing.com – Sterling edges lower vs. dollar Wednesday as BoE deputy chief signals more easing
Sterling was down 0.24% at $1.2992 at 05:00 ET. The dollar index was up 0.1%.
BoE`s Minouche Shafik said in a speech the U.K. experiencing “sizeable economic shock” due to Brexit.
“It seems likely to me that further monetary stimulus will be required at some point, “ the deputy governor said.
“Timing of that stimulus will depend on the continued evolution of the data over the coming weeks and months.”
The BoE’s bank rate was cut to an historical low of 0.25% after UK vote to leave EU.