BoE Preview: More action may come

The Bank of England (BoE) is set to leave its policy unchanged after two emergency moves. GBP/USD may be more responsive to new loan programs, in the opinion of Yohay Elam from FXStreet.

Key quotes

“The BOE's third rate decision in as many weeks may result in no new policy measures after it already took substantial steps to support the economy.” 

“Governor Bailey and his colleagues may opt for offering more loans, thus helping the economy and boosting sterling.” 

“The third option is to add more QE, supporting sterling if done with care and weighing on it – at least in the short-term – if done without limits. This scenario has a lower probability.”