U.K. Prime Minister Gordon Brown to Announce Rescue Package

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GBPUSD – U.K. Prime Minister Gordon Brown will announce a 500 Million Pounds program later today as U.K. economy faces a recession for the first time in over a decade. The program will provide firms with up 2,500 pounds for every new hire who has been unemployed for at more than 6 month. Meanwhile, the Bank of England is developing new policy tools as U.K.’s benchmark interest rate approaches zero, and may adopt a policy for quantitative easing like the Fed. The BoE is searching for a new chief of markets to enforce monetary policy as they consider ways to control the economy through the use of open market operations. Furthermore, the Bank of England is also pushing for regulatory changes to increase their powers in order to deal with the turmoil in the financial sector. Discuss the topic and your trade ideas in the GBP/USD Forum.