This amounted to the fifth interest rate cut this year and rates are now at their lowest level since 1964. Dealers interpreted these remarks as an indication the BoE is inclined to ease further early next month. Minutes from today's MPC meeting and the October meeting will be released on 17 October. The pair briefly spiked below the 0.6250 level following the BoE's announcement. SNB eased monetary policy by 50bp yesterday, three days ahead of its scheduled Q4 policy statement.
Traders continue to buy francs in typical safe haven plays.
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