Bloomberg News

Pound Drops Versus Dollar, BOE Adds Stimulus to Boost Economy

October 06, 2011

Oct. 6 (Bloomberg) -- The pound tumbled against the dollar and the euro after the Bank of England unexpectedly added stimulus to revive the economy.

Sterling slid 0.9 percent to $1.5326 as of 12:02 p.m. in London, and weakened 0.8 percent to 87 pence per euro.

Policy makers will increase their bond-purchase program by 75 billion pounds. The median forecast of economists surveyed by Bloomberg predicted no change.

To contact the reporter on this story: Paul Dobson in London at pdobson2@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net


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