The Pound recovered pretty well. Overview for 24.09.2021

GBPUSD has recovered in response to the results of the BoE’s meeting. 

The British Pound continues recovering against the USD, successfully so far.  The current quote for the instrument is 1.3721.

During its September meeting, the Bank of England left all aspects of its monetary policy intact: the benchmark interest rate at 1.10% and the QE program volume at £895B. The rate decision was made unanimously. 

At the same time, two monetary policymakers voted in favour of reducing the QE program volume and that gave the Pound a huge boost. 

In theory, the QE program is expected to be closed this December. Now market players are expecting more talks about revising the rate. They truly believe that the regulator might raise its rates in August or November 2022. 

However, the statistics published in the morning weren’t too good. The GfK Consumer Confidence showed -13 points in September after being -8 points in the previous month and against the expected reading of -7 points. It means that consumers still don’t see any significant improvements in the economic recovery.