Bank of England cuts rate

Note: This section contains information in English only.
Source: Dukascopy Bank SA


At 12:00 GMT, Bank of England in its Monetary Policy Committee has decided to cut interest rates. GBP/USD rate is reacting to the upside.

As forecasted, official Bank rate of the GBP has been reduced by 0.25%. New rate is at 4.75%. Predictable monetary policy from the BoE is a good signal for overall economic environment in the UK. Monetary Policy Committee (MPC) votes were as follows- 0-8-1 (increase rates, decrease rates, hold rates).

Considering the newest US election results and possible global trade friction, looser monetary policy is highly plausible by the BoE. If macroeconomic data continues to confirm a weaker macroeconomic outlook, central planners will act accordingly. The Last MPC meeting in 2025 will be on 18th of December.
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