Bank of England moves GBP

Note: This section contains information in English only.
Source: Dukascopy Bank SA
On May 6, the Bank of England published its Monetary Policy Summary and minutes of the Monetary Policy Committee meeting ending on 5 May 2021. The bank revealed that it would keep its Asset Purchase Facility unchanged at 895 billion GBP and the Official Bank Rate would remain unchanged at 0.10.

Quoting the statement's key points: 

"The Bank of England's Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 5 May 2021, the Committee judged that the existing stance of monetary policy remained appropriate. The MPC voted unanimously to maintain Bank Rate at 0.1%

The Committee voted unanimously for the Bank of England to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £20 billion.

The Committee voted by a majority of 8-1 for the Bank of England to continue with its existing programme of UK government bond purchases, financed by the issuance of central bank reserves, maintaining the target for the stock of these government bond purchases at £875 billion and so the total target stock of asset purchases at £895 billion."

Full Official Release

Monetary Policy Summary and minutes of the Monetary Policy Committee meeting ending on 5 May 2021

The event caused an almost 40 pip dip on the GBP/USD currency exchange rate. However, it was followed by an immediate recovery of 80 base points.

Initial Reaction

Larger scale situation

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Actual Topics

Thu, 06 May 2021 13:21:07 GMT

10.05.-14.05. Event Historical Reactions

Notable events are set to start on Wednesday. On Wednesday, at 06:00 GMT a minor reaction could happen on all GBP assets, as the UK Preliminary GDP is scheduled to be published. On the same day, at 12:30 GMT the US Consumer Price Index and US Core Consumer Price Index are set to be published. Later on, at 14:30 GMT, the

Wed, 05 May 2021 11:22:50 GMT

05.05.-07.05.Event Historical Reactions

On Thursday, all British Pound traded assets and currency pairs are expected to move due to the announcement of the Bank of England Official Cash Rate and the Monetary Policy Summary. On Friday, Canada and the US are set to publish their monthly employment data at 12:30 GMT. This event could cause notable moves on all USD and CAD pairs. The moves

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