Pound Extends Gain Versus Dollar After ECB Holds Rate at Record

The pound extended a gain versus the dollar after the European Central Bank held its key interest rate at a record low.

Sterling rose 0.3 percent to $1.5577 at 12:48 p.m. London time. It slipped 0.2 percent against the euro to 78.86 pence.

ECB policy makers meeting in Frankfurt today left the benchmark rate at a record low of 0.75 percent, as predicted by 51 of 55 economists in a Bloomberg News survey. Four predicted a cut to 0.50 percent. The deposit rate was held at zero.

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

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.