Bank of England (BoE) news

The Bank of England (BoE) is the central bank of the United Kingdom. Its primary objective is to maintain price stability, targeting a 2% inflation rate. The BoE uses interest rate adjustments and quantitative easing to influence the economy and achieve its inflation target. It also plays a key role in ensuring financial stability in the UK.

GBP/USD: Poised for potential bullish breakout ex-post BoE

BoE offered dovish guidance but projected that inflation may run hot again in Q1 2025. GBP has remained the top outperformer major currency against the US dollar. Technical analysis suggests a potential bullish breakout for GBP/USD. The British pound sterling (GBP) made remarkable intraday recovery yesterday after the Bank of England (BoE) maintained its policy Bank Rate at a 16-high of 5.24% for the fourth consecutive time as expected and toned down its prior hawkish rhetoric.

02-02-2024 02:32 GMT by Kelvin Wong

Market Insights Podcast - BoE divided on interest rates

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the Bank of England decision, US economic releases and preview tomorrow's jobs report.

01-02-2024 16:21 GMT by Craig Erlam