Bank of England hikes interest rates

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


The Bank of England has just now increased its Official Bank Rate from 5.00% up to 5.25%. The move was expected by the financial markets. As a result of the policy change the value of the Pound initially reacted with a downwards move, before returning to previous levels.

The members of the monetary policy committee voted as follows. Eight members voted for the rate hike and one member voted to keep rates unchanged.

Note that the Governor of Bank of England Bailey is set to host a press conference at 11:30 GMT. Comments in regards to the future made by the head of the central bank are set to impact the value of the Pound and cause major volatility.
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