Breaking: BoE leaves interest rate unchanged at 4.75% as expected
|The Bank of England (BoE) announced on Thursday that it left the policy rate unchanged at 4.75% following the December policy meeting, as expected.
Bank of England (BOE)
BoE maintains bank rate at 4.75% to wrap up 2024
LATEST BOE MEASURES TO BATTLE INFLATION
BoE: Keeping the rate on dovish hold – Rabobank
|As expected, the Bank of England MPC kept rates on hold at 4.75% at this week’s meeting. The vote was split 6-3, with three dissenters voting for a 25bp cut, Rabobank’s Senior Macro Strategist Stefan Koopman notes.
GBP/USD: BoE leaves policy on hold – Scotiabank
|The BoE left its policy rate unchanged at 4.75%, as expected. The Pound Sterling (GBP) has traded well off the earlier session highs to edge back under 1.26 in early trade here, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
GBP/USD: BoE decision today – OCBC
|BoE set to keep rates steady at 4.75%. The GBP/USD pair was last seen at 1.2651, OCBC’s FX analysts Frances Cheung and Christopher Wong note.
Latest BoE related News
November meeting review
Breaking: BoE lowers policy rate by 25 bps to 4.75% as expected
|The Bank of England (BoE) announced on Thursday that it lowered the policy rate by 25 basis points (bps) to 4.75% following the November policy meeting, as expected.
September meeting review
Breaking: BoE maintains policy rate at 5% as expected
|The Bank of England (BoE) announced on Thursday that it left the policy rate unchanged at 5% following the September policy meeting, as expected.
August meeting review
Breaking: BoE cuts policy rate by 25 bps to 5% in August
|The Bank of England (BoE) announced on Thursday that it cut the policy rate by 25 basis points to 5% from 5.25%. Policymakers voted 5-4 in favor of the decision, with BoE Monetary Policy Committee (MPC) members Pill, Greene, Mann and Haskel voting to keep rates on hold.
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Big Picture
What is the BOE?
Founded in 1694, the Bank of England (BoE) is the central bank of the United Kingdom (UK). Known as ‘The old lady of Threadneedle Street’, the bank’s mission is "to promote the good of the people of the United Kingdom by maintaining monetary and financial stability".
The Bank of England is responsible for maintaining the UK’s economic stability. It operates monetary policy by adjusting the Bank Rate and, in certain circumstances, supplements this with measures such as quantitative easing.
The Bank of England decides monetary policy for the United Kingdom. Its primary goal is to achieve a steady inflation rate of 2%. Its tool for achieving this is via the adjustment of base lending rates. The BoE sets the rate at which it lends to commercial banks and banks lend to each other, determining the level of interest rates in the economy overall. This also impacts the value of the Pound Sterling (GBP).
The official website, on X and YouTube
Who is BOE's Governor?
Andrew Bailey has been the Governor of the BoE since March 2020 and his appointment ends on March 2028. Previously, he served in the BoJ as its Chief Cashier, Deputy Governor for Prudential Regulation and Chief Executive of the Financial Conduct Authority.
Bailey on his profile and Wikipedia
Interest rates latest news
The World Interest Rates Table
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.