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Bank of England lowers base rate to 5%- GBP/USD edges lower again
The Bank of England (BOE) have just announced the outcome of their monetary policy decision. The BOE have cut the base rate by 0.25% to 5% . Just ahead of this the GBP/USD lifted from the earlier session low at 1.2755 and squeezed back to retest the noted 50 day moving average, at 1.2787, before edging back again into the announcement. The impact of this decision has sent the GBP/USD back down again, but it has not yet broken any fresh ground. The voting split on this decision was 5-4 in favour of such a move . The GBP/USD is currently trading at 1.2768
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