GBPUSD News by Allie Longford on 07:33 December 15, 2016 EST
GBPUSD trades at 1.24 on Thursday.
The Bank of England left interest rates at their record low of 0.25% but repeated a warning that higher inflation and slower wage growth risk squeezing household purchasing power and spending next year.
The Bank's nine member voted unanimously to keep rates on hold and maintain the current asset purchase programme.
The minutes of their last meeting highlighted a “notable decline in consumer confidence”, repeated a forecast for unemployment to rise next year and for inflation to overtake pay growth “marginally” in 2017. In addition, “A slowdown in growth remained likely, but there had been little news since the time of the November inflation report about domestic activity and, although the near-term global outlook had improved, this was counterbalanced by more elevated risks”.