Investors are waiting for result of a feasibility study of negative rates.4 Feb 2021 10:03
Seems most of us knew this except for poor old Fawlty!
'The British pound weakened below $1.36 on Thursday, touching its lowest in two and half weeks, as investors digest weak economic data and look to Bank of England's policy meeting later in the day. A PMI survey showed Britain's construction sector fell unexpectedly into contraction in January, while new car sales tumbled 39.5% year-on-year as showrooms across the country remained shut, leading to the worst start to the year since 1970. Meanwhile, the BoE is expected to keep interest rates at record-low levels and refrain from a further increase in its bond-buying programme, while investors will keep a close eye on the bank's quarterly outlook and the result of a feasibility study of negative rates.'