The British pound sterling against the US dollar is consolidating on Friday. The current quote in GBPUSD is 1.3924. On the eve, a regular meeting of the Bank of England ended, and this time the regulator was, perhaps, even emphasized conservative. The interest rate remained at the level of 0.10% per annum, which is a historical minimum. The stimulus program also remained unchanged at £875 billion. Only one member of the monetary committee voted to cut the stimulus.

The Bank of England again reiterated the wording that it will tackle the issues of reducing the stocks of acquired assets only after making sure that the economy and financial system are functioning without complications. If the economy follows the key forecasts, the BoE will move towards a mild tightening of monetary conditions over the forecast timeframe. Everything is exactly the same as mentioned earlier.

The regulator expects that the UK GDP in the second quarter of this year will grow by 5%, in the third quarter – by about 3%. By the IV quarter of this year, the GDP will reach pre-crisis values.

For the pound, keeping the general structure of monetary policy unchanged and the absence of any ambiguous statements became a good “support” for the increase.