Sterling fell against the euro and the US dollar as the latest Monetary Policy Committee (MPC) minutes revealed a unanimous vote against hiking interest rates.
UK consumer prices index (CPI) inflation has fallen to a 15-year low of just 0.5%, driven by plunging oil prices.
UK inflation is expected to fall below 1% for the first time in 12 years following a major oil slump.
PP examines what the latest inflation report means for schemes
UK inflation will probably tumble below 1% within the next six months after hitting a five-year low of 1.2% in September, the Bank of England (BoE) governor has said.
The Bank of England (BoE) has launched its biggest ever review into the fixed income, currency and commodities (FICC) markets following a string of recent scandals.
Two members of the Bank of England's Monetary Policy Committee voted for a 25bps rate hike this month, latest minutes show - the first call for hikes in over three years.
Consumer price inflation tumbled to 1.6% in July 2014, down from 1.9% in June 2014, the Office for National Statistics (ONS) reveals.
The Bank of England has received mixed reaction to its paper on how pension schemes and insurance firms could contribute to procyclicality by amplifying asset price movements and destabilising the economy.
UK pension funds' tendency to herd in the same asset classes could lead to volatility in asset price or economic cycles which could be detrimental for the whole economy, according to a research paper from the Bank of England.