BoE Policymakers Vote 9-0 to Keep Rates on Hold in Face of War Risks

BOE ‘Stands Ready to Act’ as it Unanimously Votes to Hold Rates

The Bank of England said it “stands ready to act” against a surge in inflation triggered by war in the Middle East, prompting traders to ramp up bets on an interest-rate hike as soon as next month.

What is behind the Bank’s latest rates decision and inflation warnings?

Policymakers voted unanimously to keep rates at 3.75%, with cuts now looking to be off the table as the conflict in the Middle East escalates.

BOE 'Ready to Act' on Inflation After 9-0 Vote to Hold Rates

The Bank of England said it “stands ready to act” against a surge in inflation triggered by war in the Middle East, prompting traders to ramp up bets on an interest…

BoE policymakers vote 9-0 to keep rates on hold in face of war risks

GBP/USD Rises Following Bank of England Decision

Yesterday, the Bank of England’s decision had a significant impact on the pound, which strengthened against other currencies. Although the Official Bank Rate remained unchanged at 3.75%, the market was surprised by the “hawkish” signals, which sharply contrasted with the dovish statements made at the February meeting.According to media reports: → None of the nine committee members voted to cut the rate; → The phrase stating that the rate “could …

Bank holds rates as escalating Middle East conflict poses increased risk for inflation