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.
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