Bank of England tightens policy

Note: This section contains information in English only.
Source: Dukascopy Bank SA
On February 3, the Bank of England published its Monetary Policy Summary. The bank hiked its interest rate by 0.25% to 0.50%. In addition, the central bank Monetary Policy Committee voted unanimously to start to reduce its stock of bonds. Namely, the bank is starting quantitative tightening.

Quoting the statement: "At its meeting ending on 2 February 2022, the MPC voted by a majority of 5-4 to increase Bank Rate by 0.25 percentage points, to 0.5%. Those members in the minority preferred to increase Bank Rate by 0.5 percentage points, to 0.75%. The Committee voted unanimously for the Bank of England to begin to reduce the stock of UK government bond purchases, financed by the issuance of central bank reserves, by ceasing to reinvest maturing assets.

The Committee also voted unanimously for the Bank of England to begin to reduce the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, by ceasing to reinvest maturing assets and by a programme of corporate bond sales to be completed no earlier than towards the end of 2023 that should unwind fully the stock of corporate bond purchases."

Released Document

Monetary Policy Summary, February 2022

On the release, the GBP/USD suddenly dropped by 23 base points or 0.17%, before immediately recovering. In a span of 15 minutes, the rate gained 62 points or 0.46%.

Initial Reaction

Larger scale situation

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Actual Topics

Thu, 03 Feb 2022 13:02:17 GMT

ECB announces end of QE

On Thursday, at 12:45 GMT, the European Central Bank published its Main Refinancing Rate and Monetary Policy Statement. In general, the bank kept its rate at 0.00%, but revealed that it would end its quantitative easing policy. Quoting the statement: "In the first quarter of 2022, the Governing Council is conducting net asset purchases under the PEPP at a

Tue, 01 Feb 2022 08:46:33 GMT

RBA ends Quantitative Easing

On February 2, the Reserve Bank of Australia revealed its future monetary policy by issuing a statement. In general, the bank revealed that it would end its quantitative easing program via bond buying. Meanwhile, interest rates were left unchanged. Quoting the statement: "At its meeting today, the Board decided to maintain the cash rate target at 10 basis points and

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