The Bank of England (BoE) is likely to increase purchases of government bonds, BoE Governor Andrew Bailey told ITV on Wednesday, according to Reuters.
Bailey also added that the BoE is ready to finance COVID-19 government spending. “A majority of members of the Monetary Policy Committee were unwilling to specify the amount of new funds that should be created to buy obligations. “
GBP / USD fell slightly and was last seen to fall 0.25% to 1.2230.