Bank of England (BOE)


BoE maintains rate at 5.25%, refrains from hinting at timing of rate cut

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Breaking: BoE holds interest rate steady at 5.25%, as forecast

The Bank of England (BoE) announced on Thursday that it maintained the policy rate at 5.25% following its February policy meeting. The decision came in line with the market expectations. The BoE Monetary Policy Committee (MPC) voted 6-3 in favor of the decision. Policymakers Haskel and Mann voted to raise rates by 25 basis points (bps). Policymaker Dhingra voted to cut rates by 25 bps.


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What is the BOE?

Founded in 1694, the Bank of England (BoE) is the central bank of the United Kingdom. Sometimes known as the ‘Old Lady’ of Threadneedle Street, the Bank’s mission is "to promote the good of the people of the United Kingdom by maintaining monetary and financial stability".

The Bank of England is responsible for keeping the UK’s economy on the right track. They operate monetary policy by moving Bank Rate up and down and, in certain circumstances, we also supplement this with measures such as quantitative easing.

The official website, on Twitter and YouTube

Who is BOE's president?

Andrew Bailey is Governor of the BoE and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Prudential Regulation Committee. The Governor joined the Bank on 16 March 2020. His appointment as Governor was approved by Her Majesty the Queen.

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The World Interest Rates Table

The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.