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UPDATE 1-Sterling holds gains as BoE sticks with stimulus despite inflation

·1 min read

(Updates after BoE decision)

LONDON, Aug 5 (Reuters) - The British pound briefly extended its rise on Thursday after the Bank of England kept interest rates and its bond-buying programme on hold while largely sticking with its forecasts for an economic recovery.

Investors will be closely watching for any signals from the central bank when the BoE governor speaks later at a news conference on plans for how it will eventually reverse its stimulus, as some policymakers elsewhere begin to taper asset purchases.

By 1115 GMT, sterling traded at $1.3916, more or less where it was before the BoE decision and after briefly spiking to as high as $1.3945 a few minutes after the decision. Against the euro the pound rose 0.2% 85.11 pence. (Reporting by Tommy Wilkes, editing by Timothy Heritage and Mark Heinrich)