Weaker than expected U.K. services PMI weighed on the pound yesterday as the actual figure came in at 52.2, lower than the estimated 53.1 reading and August's 53.7 figure. Although the September services PMI is still above the 50.0 mark, which indicates industry expansion, the slower pace of growth convinced several market participants that the BOE could announce further easing measures soon.
Will the central bank do that today? Don't forget that the BOE monetary policy decision is scheduled at 11:00 am GMT so we might see a very exciting day for pound pairs. Although the BOE is expected to keep rates on hold at 0.5% and their asset purchases unchanged, the accompanying statement from BOE Governor King could contain hints regarding their future monetary policy decisions.
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