FXStreet reports that Lee Sue Ann, an economist at UOB Group, suggests that the Bank of England (BoE) could still loosen its monetary conditions further.

“The BoE had cut rates by 65 bps to 0.10%, which is its view of the lower bound, and increased its asset purchase target to GBP645bn. Estimates suggest that the BoE still has plenty of space to expand its current QE program. There are GBP390bn of gilts currently available to buy and that is before the enormous issuance due this year. As such, the sluggish economic backdrop would put the prospect of more BoE easing on the table.”