Bank of England

Bank of England: Taper time? – Forex News Preview

Posted on May 3, 2021 at 3:21 pm GMT

The BoE will publish its latest rate decision at 11:00 GMT Thursday alongside updated economic forecasts, which Governor Bailey will present during his press conference. The British economy is doing much better and there’s speculation the Bank might signal a slowdown of its asset purchases. That could propel the pound higher, but whether any gains are sustained will also depend on the Scottish elections on the same day. Reaping the rewards of vaccinations The United Kingdom is finally ready to [..]

post-image

Forex News – Sterling hit by Bank of England promise to keep low interest rates

Posted on February 2, 2017 at 4:06 pm GMT

The Bank of England released today its first interest rate decision as well as economic forecasts of the year, followed by a press conference by Governor Mark Carney. Sterling fell sharply from a pre-announcement seven-week high against the dollar. The BoE held its key rate at a record-low 0.25 percent as expected and by a unanimous vote by the Monetary Policy Committee (MPC). It also left its bond-purchase programs unchanged, by agreeing to halt purchases of government bonds at £435 billion and a [..]

post-image

European Session – Euro tumbles to lowest since 2003; sterling falls after Bank of England

Posted on December 15, 2016 at 3:29 pm GMT

The euro fell to the lowest in more than a decade while the US dollar’s Fed-drive rally continued higher.  Meanwhile, sterling extended losses after the Bank of England meeting. The BoE Monetary Policy Committee voted unanimously to leave policy unchanged at 0.25%. It also voted to keep its asset purchase program unchanged. The target amount for gilts will remain at 435 billion pounds a month and corporate bonds at 10 billion pounds. The UK central bank stated that policy can [..]

post-image

European Session – Sterling soars above $1.24 on UK court Brexit ruling and less dovish BoE

Posted on November 3, 2016 at 4:30 pm GMT

The British pound was one of the best performing currencies in Thursday’s European session as a UK High Court ruled the government could not trigger Article 50 without Parliament’s permission. The US dollar meanwhile bounced off from 4-week lows against the yen as political worries eased slightly, but its gains were capped from weak US data. A narrowing lead for Hillary Clinton in the polls continued to pressure the dollar today but the greenback managed to pare some of its [..]

post-image

Forex News – Sterling propelled to 4-week high as UK High Court rules Parliament must vote on Brexit plans

Posted on November 3, 2016 at 3:22 pm GMT

There was a lot of focus on the UK and sterling today due to some important events and data taking place. The pound rallied significantly on the news of the UK High Court ruling that Parliament must vote before Article 50 is invoked. So any Brexit plan has to be approved first by lawmakers before being implemented. After the court ruling, PM Theresa May’s office said that she still plans to trigger Article 50 before the end of March. Sterling [..]

post-image

Bank of England sees no need to cut rates; signals November cut possible

Posted on September 15, 2016 at 2:04 pm GMT

The Bank of England left rates unchanged after its policy meeting today, as it saw no pressing need to cut again after lowering the benchmark rate last month. However, it did signal a possibility for a cut at the next meeting in November if needed. The minutes of the meeting said that there was evidence the initial impact of its August stimulus measures was encouraging. The immediate hit to Britain’s economy after the Brexit vote in June appears to be [..]

post-image
post-image
post-image

European Session – Gold jumps, pound falls after BoE cuts rates to 9-year low and expands QE

Posted on August 4, 2016 at 2:33 pm GMT

The Bank of England dominated the market’s focus today as there were few other developments to note. Sterling came under heavy selling pressure on the announcement that the BoE made its first interest rate cut in seven years and added more stimulus. The market was satisfied with the more aggressive stance by the Bank. While the 25 basis point rate cut to a record low 0.25% was widely expected, markets were split on whether the BoE would expand its quantitative easing program, [..]

post-image

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.