• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
Currencies bank of England Bitcoin
Sensei Inu Logo

Pound Sterling Continues Downward Trend On Bank of England News

newsbtc by newsbtc
7 years ago
in Bitcoin
Reading Time: 3 mins read

This week has not been a good one for the Pound Sterling. As it turns out, the currency continues to lose its value out of bears the Bank of England will create a stimulus package. If the Bank of England has anything to say in the matter, they will introduce further monetary easing in August of 2016. As a result, the GBP continued its weekly decline streak, losing another 3.1% this week.

For the past few weeks, the Pound Sterling has been losing some of its value every week. This trend will continue for quite some time to come, by the look of things. Especially now that Bank of England has warned they may be forced to enact further monetary easing later this year. The Brexit did not help matters much either, sending the GBP down even further.

Bank of England Causes A Stir

As a result of this new monetary easing program, the Bank of England will need to cut rates as soon as next month. This would mean that banks who are not yet dealing with negative interest rates will be coming fairly close to this threshold. Moreover, those who already offer negative rates will have to lower them as well.

It has become apparent investors are finally realizing the Brexit cannot be avoided. Albeit the public vote already displayed the intention to leave the EU, there was lingering doubt. Some voices raised concern over the voting and demanded a second referendum. However, that will not be the case, and the Brexit will be finalized in the coming weeks.

All of this negative news for the Pound Sterling is not sending other currencies flying upwards in value either. The US Dollar is still weakening against the Euro and the Yen. Whether or not this trend will continue, remains to be seen. It will heavily depend on the Federal Reserve and whether or not they hold off on raising the rates again. Some experts feel there will no rate changes throughout the remainder of 2016.

Albeit Bitcoin offers a welcome reprieve from all of these concerns; investors are not flocking to cryptocurrency just yet. There has been no significant shift in trading volume of Bitcoin price over the past few weeks. That being said, Bitcoin holds its own with relative ease during these times of economic turmoil. Now that the Brexit is being finalized, it will be interesting to see if anything changes in this regard.

Source: Marketwatch

Header image courtesy of Shutterstock

Tags: Bank of EnglandbitcoinbrexitgbpMonetary EasingNewsOpinionPound Sterling
Tweet123Share196ShareSend
newsbtc

newsbtc

Related Posts

Bitcoin monthly close September

Bitcoin Price Trend At Stake: How September’s Close Could Change Everything

19 hours ago
Bitcoin

BULLISH: Bloomberg Analyst Points Out Two Key Bitcoin Metrics Demonstrating Historic Strength

2 days ago
Spot Bitcoin ETF

Market Analysts Outline When The First Spot Bitcoin ETF Will Be Approved

2 days ago
Bitcoin price predictions 2024

Bitcoin Price Predictions For 2024: Insights From Major Banks To Hedge Funds

2 days ago
Bitcoin price

Crypto Analyst Says Prepare For 100% Increase In Bitcoin Price As Historical Pattern Forms

3 days ago
Bitcoin price

Will Bitcoin Drop To $20,000? EURUSD Correlation Indicates It Might

3 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • As the Market Turns Green Again, Strategic Investors Are...

    9 mins ago
  • Can Ethereum (ETH) and Bitcoin (LTC) bounce from current...

    14 hours ago
  • Solana Defies Price Fears, Bitcoin Spark Leads ICO...

    20 hours ago
  • Mercante Technologies to Launch AI-Powered Customer Support...

    21 hours ago
  • Expert Reviews Of IBKR vs eToro And The Promising Broker...

    1 day ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.