The British pound surges to new multi-year highs against the USD, driven by the Bank of England's and the Fed's recent decisions.

The pound was at to its highest level in two-and-a-half years after the Bank of England left its key interest rate unchanged, taking a more cautious approach than the Federal Reserve. The pound climbed 0.

The Bank of England kept interest rates at 5.0% on Thursday, saying it would be careful about future cuts, and also held off from running down its bond holdings at a faster pace, avoiding extra budget strains for finance minister Rachel Reeves.

The Bank of England on Thursday held interest rates steady, saying it most work to reach its goal of 2% inflation in a sustainable way.

The Bank of England is widely expected to keep interest rates unchanged later Thursday despite a big cut from the U.S. Federal Reserve, its first since the onset of the coronavirus pandemic more than

The MPC is likely to reduce rates by a quarter point once more this year, as services inflation and wage growth remain elevated

The Bank of England left interest rates at 5% on Thursday and voted to run down its stock of British government bonds by another 100 billion pounds ($132.86 billion) over the coming 12 months, weighing on the government's finances.