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The Bank of England unexpectedly cut interest rates

The Bank of England unexpectedly cut interest rates | 12 March 2020

12 March 2020, GBP/USD

GBPUSD trading plan:

The Bank of England unexpectedly cut interest rates by half a percent. Members of the BoE's Monetary Policy Committee voted to cut Bank Rate for the first time since August 2016, to 0.25% from 0.75%, the central bank said in a statement. The BoE maintained its target for government bond purchases to 435 billion pounds and its corporate bond purchase target to 10 billion pounds. The BoE also introduced a new term funding scheme for small businesses. It will offer four-year funding over the next 12 months. This is a negative signal for the British currency!

Trading recommendation: Sell 1.2825 and take profit 1.2785.

David Johnson
Analyst of «FreshForex» company
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