The Bank of England (BOE) confirmed in a statement on Tuesday, the Financial Times report of a possible delay to start of the quantitative tightening bond-selling programme is inaccurate.

Earlier, the FT reported that the BOE was seen further delaying the quantitative tightening (QT) from its latest scheduled date of Oct. 31, having already delayed it from original date of Oct. 6.

Also read: GBP/USD tests 1.1300 after BOE spokesman declines to comment on FT bond report

Market reaction

In a knee-jerk reaction to the BOE headlines, GBP/USD briefly dipped below 1.1300 to hit the intraday low at 1.1288, before recovering ground to near 1.1315, where it now wavers. The pair is still down 0.29% on the day.