BoE: Monitoring developments in financial markets very closely

In a statement published on Monday, the Bank of England (BoE) said that they are monitoring developments in financial markets very closely in light of the significant repricing of the financial assets.

The BoE further noted that they welcome the government’s commitment to sustainable economic growth and to the role of the Office for Budget Responsibility.

Market reaction

With the initial reaction, the GBP/USD pair fell sharply and was last seen trading at 1.0686, where it was down 1.5% on a daily basis.