BoE's Bailey: Will see prompt action from BoE again when needed

Eren Sengezer FXStreet

"You will see prompt action from the BoE again when we need to take it," the Bank of England's (BoE) new governor Andrew Bailey told BBC news on Monday.

"The move by central banks is a strong signal of coordination," Bailey added, per Reuters. "We will see what effect of swap lines will be in the coming days. We are very keen to ensure long-term economic damage from coronavirus is minimised."

GBP/USD reaction

The British pound largely ignored these comments and the GBP/USD pair was last seen trading at 1.2282, adding 0.05% on a daily basis.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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