Bloomberg News

Pound Stays Higher Versus Dollar, Euro After ECB Cuts Rate

May 02, 2013

The pound stayed higher versus the dollar and the euro after the European Central Bank cut its benchmark interest rate to a record-low 0.5 percent.

Sterling gained 0.2 percent to $1.5582 at 12:49 p.m. London time and strengthened 0.1 percent to 84.66 pence per euro.

ECB policy makers meeting in Bratislava today lowered the main refinancing rate to 0.5 percent from 0.75 percent, a move predicted by 45 of 70 economists in a Bloomberg News survey.

To contact the editor responsible for this story: Mark McCord at mmccord2@bloomberg.net


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