BOE - Bank rate
Bank of England Official Bank Rate
Interest Rates and the BOE Monetary Policy Summary
Starts Thursday, March 21, 2019 at 12:00
Updated Thursday, March 21, 2019
The Bank of England (BOE) increased interest rates for the second time in many years in August last year after raising them in November 2017. They are expected to keep them on hold with a unanimous vote so the interest will shift to the Monetary Policy Summary This month interest rates will remain unchanged and I expect this to last for some time unless Brexit takes a turn for the better or for the worse. Although, most of the attention from the BOE will be on Brexit. Please follow us for a live coverage in real time of the event by experienced analysts.
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About Bank of England Official Bank Rate
The Official Bank Rate is the rate applied by the Bank of England (BOE) to overnight lending operations involving separate banking entities. It is determined by the Monetary Policy Committee, but the final decision on its application is made by the sitting BOE governor. Since July 2013, Mark Carney has served as BOE governor.A key driver of national monetary policy, the Official Bank Rate has a tremendous bearing on the value of the GBP. Any rise has a bullish impact upon the GBP, while a cut is viewed as extremely dovish. Historically, the Official Bank Rate has ranged from 0.25% to 17%.An announcement of the Official Bank Rate is a primary economic event. Participation is heightened and heavy volatilities are possible facing the GBP.