NEWS / Foreign Exchange

BoE Meeting Review

As it was widely expected the Bank of England (BoE) has kept its interest rate unchanged at 5.25%. The bank has not given any further explanation on this decision, while the minutes of the meeting will be published on April, 18 at 8:30 GMT.

Check the effect that the meeting has on the pairs in our Rates and Charts Section or compare the movements of the different banks in our World Interest Rates Table.

• Read how the Bank of England Maintains Bank Rate at 5.25% at the BoE

In-Depth Analysis

• Daily Market Report: Forex - The Dollar strengthened against the Sterling as the Bank of England left rates unchanged at 5.25% by ICICI Bank
• Daily Fx Strategy - BoE Unchanged, US Jobs Remain Focus by CMC Markets NY
• Currency Crosses: Trading Beyond Majors - Bear Returns to Cable Crosses by FXCM
• Daily Forex Technical Report - Mid-Day Forex Technical Report - Sterling Weakens after BoE on Hold, NFP in Focus Tomorrow by ActionForex.com
• Daily Market Report - The Bank of England decided this morning to keep its main policy rate unchanged at 5.25% by Wachovia Corporation Economics Group

Related News

• Dollar Up Versus Sterling After BOE Holds Rates Steady (Dow Jones)
• Forex - Pound rebounds following dip after BoE rate decision (AFX News)
• BoE right to keep interest rates unchanged - BCC (AFX News)
• Forex - Pound drops after BoE leaves interest rates unchanged (AFX News)
• BoE keeps key repo rate on hold at 5.25 pct (AFX News)

Analysts' comments

• Tony Juste, FX Advisor at FXstreet.com:
  "After theBoE, Cable falls to 1.9680 (50% retracement of the last upleg, which isholding at the moment), and GBP/JPY falls to 233.70. market showsdisappointment as it was well positioned on the hike side this time." -The Advisor Blog
• Roger Bootle, advisor to Deloitte:
  "Today's decision by the Monetary Policy Committee to leave interest rates unchanged at 5.25 percent is a short stay of execution as it is extremely likely that interest rates will be raised to 5.5 percent next month. And interest rates may have to rise further thereafter." - Reuters
• Ashraf Laidi, Chief FX Analyst at CMC Markets NY:
  "Sterling dropped lower on the decision, before stabilizing around the 1.9720s. We noted yesterday that the BoE??™s Monetary Policy Committee??™s inflation preoccupation with inflation was starting to recede, driven partly by expectations of receding price pressures in the medium term." - FXstreet.com
• Howard Archer, economist at Global Insight:
  "The decision for unchanged interest rates today may well have followed a very tight vote and we strongly suspect that this will mark only a temporary reprieve." - AFP