Bank of England hikes as expected

Source: Dukascopy Bank SA
At 11:00 GMT, the Bank of England voted to hike interest rates by additional 0.50%, as it was expected by the markets. Moreover, the markets expected the decision to be unanimous. The committee voted exactly that way, as all nine members voted for a 0.50% hike.

The GBP/USD reacted to the news with a spike downwards of 79 base points or 0.69%, before recovering half of the loss and returning to trade at the day's morning levels.



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