BOE - Bank rate
Bank of England Official Bank Rate
BOE Expected To Hike Interest Rates
Starts Saturday, August 18, 2018 at 04:50
Updated Thursday, August 2, 2018
The Bank of England (BOE) is expected to increase interest rates for the second time in many years after raising them in November 2017. The number of votes to hike interest rates by MPC members is also pretty important to see since it is a clue of the future monetary policy by the BOE. The votes are expected to be 7-2 in favour of a rate hike today.The attention today though will shift into the Bank of England statement. The market has been anticipating the rat hike for quite some time so there won't be any surprises there. Everything is priced in regarding interest rates, so once the rate hike is announced, the action in GBP pairs will come from the BOE Statement and the following press conference.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.