Breaking: BoE leaves policy rate and QE unchanged, GBP/USD recovers modestly

The Bank of England's (BoE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% at its January policy meeting and kept the Asset Purchase Facility steady at £895 billion.

Follow our live coverage of the BoE policy announcements and the market reaction.

Market reaction

With the initial market reaction, the GBP/USD pair erased a portion of its daily losses and was last seen losing 0.3% on a daily basis at 1.3605.

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