Bank of England keeps rate unchanged

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


As the markets expected, the Bank of England has kept the Official Bank Rate at 5.25%. The GBP/USD initially reacted with a 21 point or 0.17% surge and reaching above the 1.2200 mark.

The surge was attributed to how the monetary policy committee voted for the keeping of the rate unchanged. It was expected that 2 members would vote for a rate hike and 7 members for keeping the rate unchanged. Instead 3 members wanted a hike and 6 voted to keep rate as it is.

Afterwards the Governor of the Bank of England Bailey hosted a press conference. However, his comments did not boost the value of the Pound more than the initial rate decision.
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