Bank of England — News Archive


Pound Spikes Higher on BoE Rate Decision, Declines on Brexit Worries

The British pound today declined against the US dollar after the Bank of England left its monetary policy intact including the bank rate and the asset purchase program. The pound initially spiked higher following the BoE announcement, but quickly headed lower as investor sentiment towards the pound shifted on Brexit worries.

GBP/USD Rallies Higher on Positive UK Labour Market Report

The GBP/USD currency pair today rallied to new highs following the release of the UK labour market report for March. The report indicated that wages for workers in the UK had improved greatly, which shifted investor sentiment towards the pound, and triggered the pair’s rally.

Pound Loses Ground Following Weak UK Inflation Data

The British pound today declined against the US dollar following the release of the UK Consumer Price Index data for February. The pound gave up all of its earlier gains accumulated during the late Asian session and early European session before the release of the UK inflation data.

British Pound Trades Sideways on UK Construction PMI

The British pound today traded sideways against the US dollar after the release of the Markit/CIPS UK Construction PMI in the early European session. The pound rallied slightly higher in the mid-European session in risk-off environment as markets reacted to President Trump’s announcement that the US would institute steep tariffs on imported steel and aluminum products.

Great Britain Pound Retreats After Prior Rally

The Bank of England retreated today following the rebound of the US dollar. Earlier, the sterling rallied against some of its rivals thanks to comments from various UK policy makers and politicians.

Pound Declines on UK Jobs Report, Recovers on BoE Speeches

The British pound was on a downtrend against the US dollar from the Asian session, but its decline accelerated after the release of the UK labour market report. The pound recovered some of its losses after the hawkish tone outlined by Bank of England policymakers before the UK Parliament’s Treasury Committee.

GBP/USD Rallies Higher on UK Inflation Data, Later Declines

The GBP/USD currency pair today rallied higher after the release of UK inflation data for January as measured by the consumer price index. The currency pair later declined as the US dollar gained strength across the board, but did not give back all its gains.

GBP/USD Hits New 3-Week Lows on Mixed UK Data

The GBP/USD currency pair today dropped to new 3-week lows following the release of weak UK industrial production and trade balance data. The pair’s decline was further accelerated by a rebound in the US dollar demand supported by the sell-off across most European equities.

Pound Rallies Against US Dollar on Hawkish BoE Rate Hold

The British pound today rallied to new highs against the US dollar after the Bank of England held interest rates at the same level. The pound’s rally was largely influenced by the hawkish stance taken by the BoE as it stated that interest rates should rise at a faster rate this year than was previously expected.

Great Britain Pound Vulnerable Ahead of BoE Meeting on Thursday

The Great Britain pound was soft on Wednesday as traders were nervous ahead of the Bank of England policy meeting on Thursday. The currency fell against such rivals as the US dollar and the Japanese yen but managed to gain on its European peers, including the euro and the Swiss franc.