The Bank of England (BOE) could cut rates further and boost bond purchases if the economic downturn in the U.K. deepens, a rate-setter at the central bank said Tuesday.
"Bank rate can be cut further, closer to zero, and quantitative easing can be stepped up," McCafferty said, but added that he would advocate a more cautious stance until there was more clarity over the economic situation.
The news are negative for GBP and we can expects more downward movement in pound crosses.
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