Bank of England (BOE)


BoE pauses policy easing in March, maintains bank rate at 4.5%

LATEST BOE MEASURES TO BATTLE INFLATION

United Kingdom: BOE on pause as vote split surprises again – UOB Group

As expected, the Bank of England (BOE) decided to maintain its Bank Rate at 4.75% last Thu (20 Mar). However, in a deviation from expectations (for a 7-2 split), eight members of the Monetary Policy Committee (MPC) voted to keep the policy rate unchanged, with only perennial dove Swati Dhingra voting for a 25 bps rate cut to 4.50%, UOB Group's economist Lee Sue Ann notes.

Latest BoE related News


March meeting review

Breaking: BoE keeps its rate at 4.50%

The Bank of England (BoE) kept its policy rate unchanged at 4.50% in its March meeting, as widely anticipated. However, the decision wasn't unanimous—while eight policymakers backed the hold, just one (Swati Dhingra) pushed for a 25 basis point cut.


February meeting review


December meeting review


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What is the BOE?

Founded in 1694, the Bank of England (BoE) is the central bank of the United Kingdom (UK). 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 maintaining the UK’s economic stability. It operates monetary policy by adjusting the Bank Rate and, in certain circumstances, supplements this with measures such as quantitative easing.

The Bank of England decides monetary policy for the United Kingdom. Its primary goal is to achieve a steady inflation rate of 2%. Its tool for achieving this is via the adjustment of base lending rates. The BoE sets the rate at which it lends to commercial banks and banks lend to each other, determining the level of interest rates in the economy overall. This also impacts the value of the Pound Sterling (GBP).

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Who is BOE's Governor?

Andrew Bailey has been the Governor of the BoE since March 2020 and his appointment ends on March 2028. Previously, he served in the BoE as its Chief Cashier, Deputy Governor for Prudential Regulation and Chief Executive of the Financial Conduct Authority.

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Bailey on his profile and Wikipedia



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.