# Pound slides as Bank of England says Brexit is hitting pay rises and investment - as it happened | Business | The Guardian

> The Bank of England's August decision showed six policymakers judged the UK economy too sluggish for higher borrowing costs, while two wanted inflation tackled first. The Bank said Brexit is holding back pay rises and investment.

- Date: 2017-08-03 · published 2017-08-03T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/69721-pound-slides-as-bank-of-england-says-brexit-is-hitting-pay-rises-and-investment
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

The split vote removes expectations of a near-term rate hike, weighing on sterling and the currency conditions for UK feed purchases.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- theguardian.com: https://www.theguardian.com/business/live/2017/aug/03/bank-of-england-interest-rates-pound-inflation-mark-carney-service-sector-uk-business-live

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