Sterling falls broadly after BoE minutes
* Sterling falls broadly after BoE mins; down 1 pct vs euro
* BoE in 3-way split at Nov meet; QE outlook still unclear
* BoE says cut in reserve remuneration rate a future option
LONDON, Nov 18 (Reuters) - Sterling fell broadly, losing 1 percent against the euro, after Bank of England minutes indicated policymakers would maintain the UK's ultra-loose monetary policy for the forseeable future.
The minutes of the Nov 4-5 Monetary Policy Committee meeting showed seven of the nine members voted in favour of a 25 billion pound increase in the bank's asset purchase scheme.
However, one opted for a 40 billion pound increase while BoE chief economist Spencer Dale favoured no increase. [ID:nLI84821]
The minutes also unexpectedly revealed that the committee discussed the merits of cutting the remuneration rate the BoE pays on commercial bank reserves, saying it could be an option.
"Sterling has definitely weakened after these minutes and it seems the market thinks that the possibility of a cut in the rumuneration rate may be back on the agenda," said Gavin Friend, currency strategist at nabCapital. Continued...


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