# Pound-to-Dollar Rate in Recovery Mode after BoE Goes All-in On Economy, Backstops Bond Market

> The pound rebounded sharply on March 19 after the Bank of England cut Bank Rate from 0.25% to 0.10% and added £200bn to its quantitative easing program. The central bank said the coronavirus would cause an economic shock that could be sharp and large, and the move came as a response to a bond market rout.

- Date: 2020-03-19 · published 2020-03-19T12:00:00.000Z
- Category: macro · region UK · magnitude medium
- Page: https://feedsoft.ai/events/54370-pound-to-dollar-rate-in-recovery-mode-after-boe-goes-all-in-on-economy
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Major central bank easing weakens the dollar relative to sterling and can support commodity prices broadly through a weaker-dollar effect. The scale of QE also signals policymakers' concern about recession, which weighs on demand for animal protein and feed.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/usd/12979-pound-to-dollar-rate-in-recovery-mode-after-boe-goes-all-in-on-support-for-economy

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.