Still on target.
Wednesday, August 19, 2009
LONDON, Aug 19 (Reuters) - Sterling fell broadly and UK gilt futures rallied on Wednesday after minutes from the Bank of England's August policy meeting showed that policymakers were divided about the amount by which to extend its asset-buying programme.
Minutes from the meeting showed that the decision to extend quantitative easing by 50 billion pounds was made with a 6-3 vote, surprising markets which had been expecting a consensus. The three dissenters, which included BoE Governor Mervyn King, had wanted an extension of 75 billion pounds [ID:nBOE002011].
Sterling (GBP=D4) fell more than half a cent against the dollar to the day's low of $1.6402. The pair had traded around $1.6465 before the minutes were released.
Posted by okl at 9:09 PM