More QE

The Bank of England has extended its programme of Quantitative Easing by £75billion, more than most analysts were expecting.

As a result the Pound has slid from 1.1597 against the Euro to a low of 1.1450 before recovering to 1.15. Against the US Dollar the Pound slid from 1.55 to a low of 1.5273 before recovering to 1.53.

The European Central Bank will make their interest rate announcement at 12:45.