LONDON (Thomson Financial) - The pound softened somewhat against other major currencies after the Bank of England announced that it has left interest rates unchanged at 5.75 pct, as expected.
The BoE published a statement, something it does not normally do when it leaves rates unchanged, saying that it was 'too soon to tell how far the disruption in financial markets will impair the availability of credit to companies and households'.
It also said that indicators of pricing pressure remain somewhat elevated, although there are tentative signs of a slowdown in consumer spending.
The pound eased to about 2.020 usd from 2.022 usd previously. It lost some ground to the euro, as well, which rose to 0.6760 stg from 0.6750 stg.
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