GBP/USD: fell out of bed for US shift on BoE - Scotiabank

Analysts at Scotiabank noted that Sterling fell out of bed for the US shift.

Key Quotes:

"The sharp drop reflects the BoE’s unchanged policy decision and, more especially, the 6-2 vote in favour of maintaining the status quo, which suggests no real change in BoE thinking and no additional converts to the hawkish side of the policy camp following the departure of Forbes."

"The BoE also reduced growth forecasts and said it expects weaker wage inflation – to compound pressure on the pound."