GBP surges due to Bank of England

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


On Thursday, at 12:00 GMT, the United Kingdom's central bank announced the Official Bank Rate and released the Monetary Policy Summary. As forecast by the market consensus, the bank kept the rate at 5.25%.

In the meantime, the Monetary Policy Committee was expected to vote with two members voting for an increase and seven for keeping the rate intact. However, three instead of two members wanted a rate hike. This signals that the Bank of England is more inclined at rate hikes than it was thought.

The Pound reacted to the news with a surge above 1.2700, which extended the previous gains that occurred after the Federal Reserve announcement on Wednesday.

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Thu, 14 Dec 2023 14:37:30 GMT

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