Bank Of England Upgrades UK Growth Forecast

Bank of England’s Monetary Policy Committee meeting voted unanimously to keep interest rates and quantitative easing on hold for September. All nine members of the Monetary Policy Committee are happy with the Bank of England’s current policy stance, with a unanimous vote to keep interest rates at 0.5 percent and the quantitative easing program at £375 billion. Sterling Hit Highest Level Since January Following the upbeat assessment of the UK economy as revealed in the minutes of MPC, Sterling hit its highest level since January, while gilt fell. Sterling moved 0.2 percent higher to peak at $1.5971. Besides this, UK…