The monetary unit of the U.K. achieved sharp gains against two of its top rivals on Wednesday after Bank of England policy makers wholly opposed increasing stimulus measures during the most recent meeting, the first under governor Mark Carney, according to Bloomberg.
Policy makers cast unanimous votes against growing economy-spurring measures in the U.K., voting unanimously against the proposal. The pound also climbed against its other major rivals on Wednesday.
"Given the already large size of the asset purchase program, there was merit in pursuing a mixed strategy with regards to the different policy instruments," Bloomberg reports the minutes state. "The committee's August response to the requirement in its remit to assess the merits of forward guidance and intermediate thresholds would shed light on both the quantum of additional stimulus required and the form it should take."
Advances for the pound against the greenback and the euro were 0.3 percent and 0.4 percent, respectively.
The policy meeting marked the first under Bank of England leadership of governor Mark Carney, according to Citywire. The body under former Governor Mervyn King was more inclined to support easing policies as a strategy of spurring the economy.
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