The monetary unit of England marked a third trading session of losses against the shared currency of the European Union on Thursday as policy makers with the Bank of England (BOE) prepare to issue their monthly policy decision, according to Bloomberg.
George Osborne, Chancellor of the Exchequer, is preparing to deliver his Autumn Statement to Parliament on Thursday. The speech is projected to include commentary about regional borrowing needs while the economy grows stronger and prospects for economic development and growth.
All 39 Bloomberg-polled economists said the Monetary Policy Committee of the Bank of England is likely to preserve the target of asset purchases at 375 billion pounds. Another survey indicated the body will leave borrowing costs at 0.5 percent.
The English pound fell roughly 0.2 percent against the 17-nation monetary unit, augmenting its dive of 0.2 percent during the past two days against its rival monetary unit. The pound has climbed 3.2 percent against the U.S. dollar during the past 30 days.
Confidence is growing amongst officials with the Bank of England regarding the recovery of the regional economy, according to Business Report.
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