Bank of England (BOE)


BOE Next Interest Rate Decision

Latest related News

Latest related Analysis


March BOE meeting review

BoE chomps at the bit but the market is moving on

Crucially, whilst doing nothing to alter signals of a fresh 25 basis point at its next meeting, the committee flagged a lack of urgency in telegraphing moves beyond that. Future increases “would be gradual and limited” the MPC’s statement said. Nor was much there concern on the committee over the newly contentious issue of international trade. Imminent U.S. tariff announcements were likely to have a limited impact, according to the statement, even if any eventual rise in protectionism would have a “significant negative impact”.


February BOE meeting review

BOE keeps policy unchanged in a unanimous decision

At its first meeting of 2018, the Bank of England (BoE) Monetary Policy Committee (MPC) decided to keep the benchmark interest rate at 0.5% in a unanimous 9-0 vote. The Committee also decided unanimously to maintain its asset purchase facility at £435 billion and corporate bond target at £10 billion

Sponsor broker



Big Picture

Brexit negotiations, exploring unknown territory

The progress in Brexit negotiations is slower than expected. The next round of negotiations, originally scheduled on September 18, is postponed by a week. Media reports suggested that UK's PM Theresa May was preparing to make an "important intervention" on the talks. While the UK urged the EU to be more flexible and to move to trade deals, the EU insisted that the “divorce bill” issue has to be resolved first. EU's chief negotiator Michael Barnier noted last week that he was “very disappointed” by the UK government as it “seems to be backtracking” on commitments to the bill.

While the hawkish members, mainly Michael Saunders and Ian McCafferty, would warn of strong inflation on the economy, the rest would consider the overall economic environment and uncertain outcome of Brexit as key factors to keep the monetary policy unchanged.

What is the BOE?

Founded in 1694, the Bank of England 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.

Who is BOE's president?

Mark Carney is Governor of the BoE and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Prudential Regulation Committee. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.

The official website, on Twitter and YouTube

Carney

Carney on his profile and Wikipedia



Interest rates latest news

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.


Preferred brokers in your location