Overwhelming support of Bank of England policy makers for holding off on additional easing boosted the value of the English pound on Wednesday, Bloomberg reports.
Marking a fourth consecutive day of gains against the world's reserve currency, the pound benefited from minutes of the early December policy meeting indicating the vote against additional easing was 8 to 1. Holdout David Miles supported an increase to the asset-purchasing target of 25 billion pounds.
"They are not giving any clear suggestion that they are ready for more QE, but that is something which could well happen fairly early next year," European currency strategy head Ian Stannard with Morgan Stanley in London told the news source. "We see them use the phrase that sterling strength is unwelcome. All of this is increasingly bringing sterling into the policy debate."
Leaving the interest rate at a record low of 0.5 percent was unanimously supported by the nine policy makers.
Outgoing central bank chief Mervyn King told a New York audience earlier this month he is confident about the prospects of success for successor Mark Carney, The New York Times reports. Carney is leaving the same job at the Bank of Canada.
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